Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Trading Down 9.2% – Should You Sell?

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU)’s share price traded down 9.2% during mid-day trading on Friday . The stock traded as low as $133.93 and last traded at $133.93. Approximately 605,130 shares changed hands during mid-day trading, an increase of 29% from the average daily volume of 467,905 shares. The stock had previously closed at $147.58.

Direxion Daily NVDA Bull 2X Shares Stock Down 9.0%

The stock’s 50-day moving average is $126.73 and its 200-day moving average is $124.19. The firm has a market cap of $614.07 million, a P/E ratio of 42.98 and a beta of 3.80.

Direxion Daily NVDA Bull 2X Shares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were given a $0.694 dividend. This represents a $2.78 annualized dividend and a yield of 2.1%. The ex-dividend date was Tuesday, June 23rd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Tucker Asset Management LLC bought a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the fourth quarter valued at about $69,000. Group One Trading LLC bought a new position in Direxion Daily NVDA Bull 2X Shares during the third quarter worth about $175,000. TRUE Private Wealth Advisors acquired a new stake in Direxion Daily NVDA Bull 2X Shares during the third quarter valued at approximately $204,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the 3rd quarter valued at approximately $262,000. Finally, StoneX Group Inc. acquired a new position in shares of Direxion Daily NVDA Bull 2X Shares in the 4th quarter worth approximately $264,000.

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.