Renaissance Technologies LLC Invests $752K in Direxion Daily AMZN Bull 2X Shares
Renaissance Technologies LLC recently made a new investment in Direxion Daily AMZN Bull 2X Shares (NASDAQ:AMZU) worth approximately $752,000. The firm purchased 28,000 shares of the company's stock in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission.
This is not an isolated instance, as several other institutional investors have also modified their holdings of Direxion Daily AMZN Bull 2X Shares. UBS Group AG, for example, raised its holdings in shares of the company by 9,912.7% in the 4th quarter and now owns 456,078 shares valued at $15,940,000.
The Direxion Daily AMZN Bull 1.5X Shares ETF (AMZU) provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Amazon stock. The fund has a market capitalization of $350.87 million, a PE ratio of 32.75, and a beta of 2.49.