Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Gap Up – Time to Buy?

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $126.47, but opened at $141.91. Direxion Daily NVDA Bull 2X Shares shares last traded at $143.79, with a volume of 536,257 shares changing hands.

Direxion Daily NVDA Bull 2X Shares Stock Up 12.9%

The stock has a market cap of $652.41 million, a PE ratio of 42.98 and a beta of 3.80. The firm’s fifty day moving average price is $126.42 and its 200 day moving average price is $123.87.

Direxion Daily NVDA Bull 2X Shares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders 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 yield of 1.9%.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IMC Chicago LLC bought a new position in shares of Direxion Daily NVDA Bull 2X Shares during the 4th quarter valued at approximately $5,211,000. Virtu Financial LLC boosted its stake in shares of Direxion Daily NVDA Bull 2X Shares by 600.0% during the 4th quarter. Virtu Financial LLC now owns 19,859 shares of the company’s stock worth $2,338,000 after purchasing an additional 17,022 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Direxion Daily NVDA Bull 2X Shares by 10.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,216 shares of the company’s stock valued at $496,000 after buying an additional 416 shares during the period. Tucker Asset Management LLC purchased a new position in Direxion Daily NVDA Bull 2X Shares during the 4th quarter valued at $69,000. Finally, SBI Securities Co. Ltd. boosted its stake in shares of Direxion Daily NVDA Bull 2X Shares by 0.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 38,293 shares of the company’s stock valued at $4,508,000 after purchasing an additional 351 shares during the period.

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.