Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Stock Price Down 7.2% – What’s Next?

Shares of Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) traded down 7.2% on Friday . The company traded as low as $115.00 and last traded at $117.22. 155,901 shares were traded during mid-day trading, a decline of 68% from the average session volume of 492,175 shares. The stock had previously closed at $126.33.

Direxion Daily NVDA Bull 2X Shares Price Performance

The firm has a market capitalization of $601.26 million, a P/E ratio of 42.98 and a beta of 3.79. The firm has a 50-day moving average price of $133.65 and a two-hundred day moving average price of $120.98.

Direxion Daily NVDA Bull 2X Shares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were paid a $0.694 dividend. This represents a $2.78 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, June 23rd.

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

Large investors have recently added to or reduced their stakes in the stock. PayPay Securities Corp grew its stake in Direxion Daily NVDA Bull 2X Shares by 52.5% in the 4th quarter. PayPay Securities Corp now owns 334 shares of the company’s stock worth $39,000 after acquiring an additional 115 shares in the last quarter. Tucker Asset Management LLC bought a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the fourth quarter valued at approximately $69,000. Group One Trading LLC bought a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the third quarter valued at approximately $175,000. TRUE Private Wealth Advisors purchased a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the third quarter valued at approximately $204,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the third quarter valued at approximately $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.