Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Short Interest Update

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) was the target of a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 221,402 shares, a drop of 41.5% from the May 14th total of 378,732 shares. Based on an average daily volume of 653,345 shares, the short-interest ratio is currently 0.3 days. Currently, 5.0% of the shares of the company are sold short.

Direxion Daily NVDA Bull 2X Shares Stock Down 4.9%

Shares of NASDAQ:NVDU opened at $129.64 on Wednesday. Direxion Daily NVDA Bull 2X Shares has a 12-month low of $81.02 and a 12-month high of $172.89. The stock has a market cap of $570.42 million, a PE ratio of 42.98 and a beta of 3.73. The business has a 50 day moving average of $134.61 and a 200-day moving average of $119.98.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders 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 dividend yield of 1.6%. The ex-dividend date was Tuesday, March 24th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. PayPay Securities Corp increased its position in 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 buying an additional 115 shares during the period. Tucker Asset Management LLC bought a new position in Direxion Daily NVDA Bull 2X Shares during the 4th quarter worth $69,000. Group One Trading LLC bought a new position in Direxion Daily NVDA Bull 2X Shares during the 3rd quarter worth $175,000. TRUE Private Wealth Advisors bought a new position in Direxion Daily NVDA Bull 2X Shares during the 3rd quarter worth $204,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Direxion Daily NVDA Bull 2X Shares during the 3rd quarter worth $262,000.

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.