Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Stock Price Up 8.1% – Time to Buy?

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) shares traded up 8.1% on Wednesday . The company traded as high as $145.72 and last traded at $145.00. Approximately 236,353 shares traded hands during trading, a decline of 49% from the average session volume of 464,918 shares. The stock had previously closed at $134.12.

Direxion Daily NVDA Bull 2X Shares Trading Up 3.4%

The firm has a market capitalization of $674.44 million, a price-to-earnings ratio of 42.98 and a beta of 3.81. The company has a fifty day moving average price of $128.33 and a 200-day moving average price of $124.94.

Hedge Funds Weigh In On Direxion Daily NVDA Bull 2X Shares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tucker Asset Management LLC bought a new stake in Direxion Daily NVDA Bull 2X Shares in the fourth quarter worth approximately $69,000. Group One Trading LLC bought a new position in shares of Direxion Daily NVDA Bull 2X Shares during the 3rd quarter valued at $175,000. TRUE Private Wealth Advisors bought a new position in shares of Direxion Daily NVDA Bull 2X Shares during the 3rd quarter valued at $204,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the 3rd quarter valued at $262,000. Finally, StoneX Group Inc. acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the 4th quarter valued at $264,000.

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.