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

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) was the target of a significant decrease in short interest in May. As of May 31st, there was short interest totalling 510,000 shares, a decrease of 50.0% from the May 15th total of 1,020,000 shares. Currently, 5.7% of the company’s stock are sold short. Based on an average daily trading volume, of 1,366,800 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lake Street Advisors Group LLC bought a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the 4th quarter worth approximately $411,000. SBI Securities Co. Ltd. purchased a new stake in Direxion Daily NVDA Bull 2X Shares in the fourth quarter worth $4,593,000. Virtu Financial LLC bought a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the fourth quarter valued at $1,155,000. JPMorgan Chase & Co. purchased a new position in shares of Direxion Daily NVDA Bull 2X Shares during the 4th quarter valued at $37,000. Finally, Tucker Asset Management LLC purchased a new stake in Direxion Daily NVDA Bull 2X Shares in the 4th quarter worth about $51,000.

Direxion Daily NVDA Bull 2X Shares Stock Performance

NASDAQ:NVDU traded down $0.34 during trading on Tuesday, reaching $83.88. The company’s stock had a trading volume of 253,197 shares, compared to its average volume of 1,408,902. Direxion Daily NVDA Bull 2X Shares has a 12 month low of $32.63 and a 12 month high of $146.87. The firm has a market cap of $753.24 million, a price-to-earnings ratio of 42.98 and a beta of 4.15. The firm has a 50 day moving average of $63.68 and a 200-day moving average of $75.91.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th were issued a dividend of $0.4201 per share. The ex-dividend date was Tuesday, March 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.00%.

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.