Direxion Daily AMZN Bull 2X Shares (NASDAQ:AMZU) Share Price Pass Above 50-Day Moving Average – Time to Sell?

Direxion Daily AMZN Bull 2X Shares (NASDAQ:AMZU)’s stock price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $34.43 and traded as high as $37.44. Direxion Daily AMZN Bull 2X Shares shares last traded at $35.69, with a volume of 1,651,836 shares trading hands.

Direxion Daily AMZN Bull 2X Shares Stock Performance

The company has a 50-day moving average of $34.43 and a 200-day moving average of $33.66. The firm has a market capitalization of $175.95 million, a price-to-earnings ratio of 120.98 and a beta of -2.52.

Direxion Daily AMZN Bull 2X Shares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 24th were issued a $0.3042 dividend. This represents a $1.22 annualized dividend and a dividend yield of 3.41%. The ex-dividend date was Tuesday, September 24th. This is a boost from Direxion Daily AMZN Bull 2X Shares’s previous quarterly dividend of $0.25.

Institutional Investors Weigh In On Direxion Daily AMZN Bull 2X Shares

A number of hedge funds and other institutional investors have recently made changes to their positions in AMZU. Hollencrest Capital Management bought a new position in Direxion Daily AMZN Bull 2X Shares during the 2nd quarter worth about $37,000. Client First Investment Management LLC acquired a new position in shares of Direxion Daily AMZN Bull 2X Shares during the second quarter worth about $297,000. Regal Investment Advisors LLC bought a new position in shares of Direxion Daily AMZN Bull 2X Shares during the second quarter worth about $273,000. Traynor Capital Management Inc. raised its position in Direxion Daily AMZN Bull 2X Shares by 56.4% in the 3rd quarter. Traynor Capital Management Inc. now owns 21,500 shares of the company’s stock valued at $697,000 after buying an additional 7,750 shares during the last quarter. Finally, Flow Traders U.S. LLC bought a new stake in Direxion Daily AMZN Bull 2X Shares in the 3rd quarter valued at approximately $446,000.

About Direxion Daily AMZN Bull 2X Shares

The Direxion Daily AMZN Bull 1.5X Shares ETF (AMZU) is an exchange-traded fund that is based on the Amazon.com, Inc index. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Amazon stock. AMZU was launched on Sep 7, 2022 and is managed by Direxion.