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

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 1,100,000 shares, an increase of 79.6% from the February 28th total of 612,400 shares. Based on an average daily volume of 1,430,400 shares, the short-interest ratio is presently 0.8 days. Approximately 14.7% of the shares of the company are sold short.

Institutional Trading of Direxion Daily NVDA Bull 2X Shares

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC lifted its position in Direxion Daily NVDA Bull 2X Shares by 54.8% in the fourth quarter. Jane Street Group LLC now owns 81,848 shares of the company’s stock valued at $7,660,000 after purchasing an additional 28,963 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Direxion Daily NVDA Bull 2X Shares during the 4th quarter worth approximately $4,593,000. Optiver Holding B.V. lifted its holdings in shares of Direxion Daily NVDA Bull 2X Shares by 2,158.3% in the 4th quarter. Optiver Holding B.V. now owns 42,389 shares of the company’s stock valued at $3,967,000 after buying an additional 40,512 shares during the period. Flow Traders U.S. LLC purchased a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the third quarter valued at approximately $2,165,000. Finally, NorthRock Partners LLC acquired a new position in Direxion Daily NVDA Bull 2X Shares during the fourth quarter worth $1,517,000.

Direxion Daily NVDA Bull 2X Shares Trading Down 3.3 %

Shares of Direxion Daily NVDA Bull 2X Shares stock traded down $1.84 during trading hours on Friday, hitting $53.49. 824,376 shares of the company were exchanged, compared to its average volume of 1,484,769. The business has a 50-day moving average of $74.42 and a 200-day moving average of $96.36. Direxion Daily NVDA Bull 2X Shares has a 1 year low of $44.91 and a 1 year high of $146.87. The stock has a market capitalization of $401.18 million, a price-to-earnings ratio of 43.89 and a beta of 4.15.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th will be paid a $0.4201 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Tuesday, March 25th.

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.