Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Trading Up 7.5% – Still a Buy?

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) were up 7.5% during mid-day trading on Friday . The company traded as high as $134.95 and last traded at $134.63. Approximately 304,047 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 465,287 shares. The stock had previously closed at $125.28.

Direxion Daily NVDA Bull 2X Shares Price Performance

The stock has a market cap of $650.42 million, a PE ratio of 42.98 and a beta of 4.13. The business has a fifty day moving average of $109.46 and a 200-day moving average of $117.58.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 1.5%.

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

Large investors have recently bought and sold shares of the business. Ausdal Financial Partners Inc. bought a new position in Direxion Daily NVDA Bull 2X Shares in the third quarter worth approximately $472,000. Beacon Capital Management LLC bought a new position in Direxion Daily NVDA Bull 2X Shares in the fourth quarter worth approximately $404,000. Mercer Global Advisors Inc. ADV bought a new position in Direxion Daily NVDA Bull 2X Shares in the third quarter worth approximately $262,000. TRUE Private Wealth Advisors bought a new position in Direxion Daily NVDA Bull 2X Shares in the third quarter worth approximately $204,000. Finally, Virtu Financial LLC raised its stake in Direxion Daily NVDA Bull 2X Shares by 600.0% in the fourth quarter. Virtu Financial LLC now owns 19,859 shares of the company’s stock worth $2,338,000 after buying an additional 17,022 shares in the last quarter.

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.