Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Down 4.9% – What’s Next?

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) shares traded down 4.9% on Thursday . The stock traded as low as $117.20 and last traded at $117.42. Approximately 230,837 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 494,521 shares. The stock had previously closed at $123.46.

Direxion Daily NVDA Bull 2X Shares Price Performance

The stock has a market capitalization of $641.87 million, a P/E ratio of 42.98 and a beta of 3.79. The company’s 50 day simple moving average is $133.71 and its two-hundred day simple moving average is $120.74.

Direxion Daily NVDA Bull 2X Shares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were given a dividend of $0.694 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $2.78 dividend on an annualized basis and a yield of 2.1%.

Institutional Investors Weigh In On Direxion Daily NVDA Bull 2X Shares

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PayPay Securities Corp grew its holdings in Direxion Daily NVDA Bull 2X Shares by 52.5% during the fourth quarter. PayPay Securities Corp now owns 334 shares of the company’s stock valued at $39,000 after purchasing an additional 115 shares during the period. Tucker Asset Management LLC acquired a new stake in Direxion Daily NVDA Bull 2X Shares in the fourth quarter worth $69,000. Group One Trading LLC bought a new position in shares of Direxion Daily NVDA Bull 2X Shares during the third quarter worth $175,000. TRUE Private Wealth Advisors bought a new position in shares of Direxion Daily NVDA Bull 2X Shares during the third quarter worth $204,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of Direxion Daily NVDA Bull 2X Shares in the 3rd quarter valued at $262,000.

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.