Direxion Daily AVGO Bear 1X Shares

AVS

Market cap $21M

While the surge in capital inflows toward artificial intelligence and other advanced innovations has resulted in remarkable performances, the ebb and flow of the market dictates a cautious outlook. Earlier this summer, some experts warned about the excessive concentration of investor funds toward a select and elite group within the S&P 500.

Thanks to another strong showing for its second-quarter earnings report, semiconductor giant Broadcom Inc. AVGO has been one of the strongest performers among major publicly traded tech firms. On a year-to-date basis, AVGO stock has gained nearly 19%.

These ETFs generated decent returns in the S&P 500's worst week since September.

Last week was mixed-to-downbeat for Wall Street.

The artificial intelligence (AI) theme dominated in 2024. One of the beneficiaries was Broadcom.

On Thursday, Direxion launched four new leveraged and inverse ETFs that bring single-stock exposure to the semiconductor sector.  The Direxion Daily AVGO Bull 2X Shares (AVL) and the Direxion Daily AVGO Bear 1X Shares (AVS) focus on Broadcom.