Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Up 6.5% – What’s Next?

Shares of Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) shot up 6.5% on Wednesday . The company traded as high as $122.89 and last traded at $122.37. 429,505 shares were traded during trading, a decline of 13% from the average daily volume of 496,219 shares. The stock had previously closed at $114.90.

Direxion Daily NVDA Bull 2X Shares Price Performance

The company has a 50-day moving average price of $134.71 and a two-hundred day moving average price of $120.46. The company has a market cap of $607.45 million, a PE ratio of 42.98 and a beta of 3.79.

Direxion Daily NVDA Bull 2X Shares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were paid a $0.694 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $2.78 annualized dividend and a dividend yield of 2.2%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. PayPay Securities Corp boosted its stake in shares of Direxion Daily NVDA Bull 2X Shares by 52.5% during the 4th quarter. PayPay Securities Corp now owns 334 shares of the company’s stock valued at $39,000 after buying an additional 115 shares during the last quarter. Tucker Asset Management LLC bought a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the 4th quarter valued at about $69,000. Group One Trading LLC bought a new position in shares of Direxion Daily NVDA Bull 2X Shares during the third quarter valued at approximately $175,000. TRUE Private Wealth Advisors acquired a new stake in Direxion Daily NVDA Bull 2X Shares in the third quarter worth $204,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the 3rd quarter worth about $262,000.

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.