Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Up 9.8% – Should You Buy?

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU)’s stock price shot up 9.8% on Monday . The stock traded as high as $150.19 and last traded at $150.19. 359,588 shares were traded during trading, a decline of 30% from the average session volume of 510,466 shares. The stock had previously closed at $136.80.

Direxion Daily NVDA Bull 2X Shares Price Performance

The company has a market capitalization of $650.06 million, a P/E ratio of 42.98 and a beta of 3.81. The company has a fifty day moving average price of $125.33 and a two-hundred day moving average price of $119.01.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were issued a $0.5254 dividend. The ex-dividend date was Tuesday, March 24th. This represents a $2.10 annualized dividend and a yield of 1.4%.

Institutional Trading of Direxion Daily NVDA Bull 2X Shares

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