Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Stock Price Up 4.4% After Dividend Announcement

Shares of Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) were up 4.4% on Tuesday following a dividend announcement from the company. The stock traded as high as $120.62 and last traded at $120.46. Approximately 376,431 shares were traded during trading, a decline of 63% from the average daily volume of 1,023,905 shares. The stock had previously closed at $115.40.

The newly announced dividend which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 23rd will be paid a $0.7196 dividend. The ex-dividend date is Tuesday, December 23rd. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.4%.

Direxion Daily NVDA Bull 2X Shares Stock Up 4.6%

The stock has a market cap of $576.75 million, a PE ratio of 42.98 and a beta of 4.20. The business has a 50 day moving average price of $124.78 and a 200 day moving average price of $117.38.

Hedge Funds Weigh In On Direxion Daily NVDA Bull 2X Shares

A number of hedge funds have recently bought and sold shares of the business. UBS Group AG raised its stake in shares of Direxion Daily NVDA Bull 2X Shares by 120.0% during the 3rd quarter. UBS Group AG now owns 275,000 shares of the company’s stock worth $36,061,000 after buying an additional 149,978 shares during the period. Tower Research Capital LLC TRC increased its holdings in Direxion Daily NVDA Bull 2X Shares by 115.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 27,706 shares of the company’s stock worth $3,633,000 after acquiring an additional 14,838 shares in the last quarter. Flow Traders U.S. LLC acquired a new position in Direxion Daily NVDA Bull 2X Shares during the second quarter worth $2,175,000. Jump Financial LLC lifted its holdings in Direxion Daily NVDA Bull 2X Shares by 206.1% during the third quarter. Jump Financial LLC now owns 20,221 shares of the company’s stock valued at $2,652,000 after purchasing an additional 13,614 shares in the last quarter. Finally, HRT Financial LP acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the second quarter valued at about $1,925,000.

About Direxion Daily NVDA Bull 2X Shares

The Direxion Daily NVDA Bull 2X Shares (NVDU) is an exchange-traded fund that mostly invests in information technology equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of NVIDIA stock. NVDU was launched on Sep 13, 2023 and is issued by Direxion.