Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Short Interest Up 60.9% in April

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) was the target of a large increase in short interest in April. As of April 15th, there was short interest totalling 39,100 shares, an increase of 60.9% from the March 31st total of 24,300 shares. Based on an average daily trading volume, of 389,200 shares, the days-to-cover ratio is currently 0.1 days.

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

A number of hedge funds have recently made changes to their positions in NVDU. Simplex Trading LLC increased its holdings in Direxion Daily NVDA Bull 2X Shares by 41,174.4% during the 1st quarter. Simplex Trading LLC now owns 17,748 shares of the company’s stock valued at $1,168,000 after purchasing an additional 17,705 shares in the last quarter. IMC Chicago LLC lifted its holdings in Direxion Daily NVDA Bull 2X Shares by 54.7% during the 1st quarter. IMC Chicago LLC now owns 44,538 shares of the company’s stock worth $2,931,000 after buying an additional 15,749 shares in the last quarter. Finally, Citigroup Inc. bought a new position in Direxion Daily NVDA Bull 2X Shares in the 3rd quarter valued at $2,375,000.

Direxion Daily NVDA Bull 2X Shares Stock Performance

NASDAQ:NVDU traded up $6.62 during trading hours on Friday, reaching $59.87. The company had a trading volume of 456,756 shares, compared to its average volume of 358,326. The stock has a 50-day moving average of $60.10 and a two-hundred day moving average of $40.67. Direxion Daily NVDA Bull 2X Shares has a one year low of $20.18 and a one year high of $74.51.

Direxion Daily NVDA Bull 2X Shares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 20th were issued a $0.2606 dividend. This is a positive change from Direxion Daily NVDA Bull 2X Shares’s previous quarterly dividend of $0.18. The ex-dividend date was Tuesday, March 19th. This represents a $1.04 annualized dividend and a dividend yield of 1.74%.

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.