Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Trading Up 7.7% – Here’s What Happened

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU)’s share price were up 7.7% on Tuesday . The company traded as high as $121.80 and last traded at $121.79. Approximately 558,874 shares were traded during mid-day trading, an increase of 18% from the average daily volume of 473,072 shares. The stock had previously closed at $113.07.

Direxion Daily NVDA Bull 2X Shares Stock Performance

The business’s 50 day moving average is $107.17 and its 200-day moving average is $117.59. The firm has a market capitalization of $663.76 million, a price-to-earnings ratio of 42.98 and a beta of 4.13.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were issued a dividend of $0.5254 per share. This represents a $2.10 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Tuesday, March 24th.

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

A number of institutional investors have recently made changes to their positions in NVDU. PayPay Securities Corp lifted its position 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 worth $39,000 after purchasing an additional 115 shares during the last quarter. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the third quarter valued at approximately $42,000. Bogart Wealth LLC boosted its position in shares of Direxion Daily NVDA Bull 2X Shares by 25.0% in the third quarter. Bogart Wealth LLC now owns 500 shares of the company’s stock valued at $66,000 after acquiring an additional 100 shares during the period. Tucker Asset Management LLC acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the fourth quarter worth $69,000. Finally, Group One Trading LLC bought a new position in Direxion Daily NVDA Bull 2X Shares during the third quarter worth $175,000.

Direxion Daily NVDA Bull 2X Shares Company Profile

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.