Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Sees Significant Decrease in Short Interest

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) was the target of a large drop in short interest in April. As of April 15th, there was short interest totaling 345,432 shares, a drop of 37.1% from the March 31st total of 549,323 shares. Approximately 7.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 418,796 shares, the days-to-cover ratio is presently 0.8 days.

Institutional Trading of Direxion Daily NVDA Bull 2X Shares

A number of large investors have recently made changes to their positions in NVDU. Jump Financial LLC purchased a new position in Direxion Daily NVDA Bull 2X Shares in the 2nd quarter worth about $654,000. HRT Financial LP purchased a new position in shares of Direxion Daily NVDA Bull 2X Shares during the second quarter worth approximately $1,925,000. Captrust Financial Advisors raised its stake in shares of Direxion Daily NVDA Bull 2X Shares by 68.2% during the second quarter. Captrust Financial Advisors now owns 9,985 shares of the company’s stock valued at $988,000 after acquiring an additional 4,050 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Direxion Daily NVDA Bull 2X Shares by 599.0% in the second quarter. Tower Research Capital LLC TRC now owns 12,868 shares of the company’s stock valued at $1,274,000 after purchasing an additional 11,027 shares during the period. Finally, Bogart Wealth LLC grew its stake in 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 worth $66,000 after purchasing an additional 100 shares in the last quarter.

Direxion Daily NVDA Bull 2X Shares Stock Performance

Shares of NVDU traded down $4.58 during mid-day trading on Tuesday, hitting $142.52. 736,522 shares of the stock were exchanged, compared to its average volume of 480,166. The company has a market cap of $662.72 million, a PE ratio of 42.98 and a beta of 4.13. Direxion Daily NVDA Bull 2X Shares has a 52-week low of $44.82 and a 52-week high of $165.77. The firm has a 50-day moving average of $110.72 and a two-hundred day moving average of $117.48.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were paid a dividend of $0.5254 per share. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $2.10 dividend on an annualized basis and a yield of 1.5%.

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.