Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Trading 6.5% Higher – Still a Buy?

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU – Get Free Report)’s stock price shot up 6.5% on Wednesday . The company traded as high as $122.89 and last traded at $122.37. Approximately 429,505 shares were traded during trading, a decline of 13% from the average session volume of 496,219 shares. The stock had previously closed at $114.90.

Direxion Daily NVDA Bull 2X Shares Stock Performance

The company has a market capitalization of $635.52 million, a PE ratio of 42.98 and a beta of 3.79. The company’s 50-day simple moving average is $133.82 and its 200-day simple moving average is $120.67.

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Direxion Daily NVDA Bull 2X Shares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were paid a dividend of $0.694 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $2.78 annualized dividend and a dividend yield of 2.1%.

Institutional Trading of Direxion Daily NVDA Bull 2X Shares

A number of hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG grew its stake in shares of Direxion Daily NVDA Bull 2X Shares by 120.0% in the 3rd quarter. UBS Group AG now owns 275,000 shares of the company’s stock valued at $36,061,000 after purchasing an additional 149,978 shares during the last quarter. IMC Chicago LLC purchased a new position in Direxion Daily NVDA Bull 2X Shares during the 4th quarter worth $5,211,000. HRT Financial LP acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the 2nd quarter worth $1,925,000. Virtu Financial LLC increased its stake in shares of Direxion Daily NVDA Bull 2X Shares by 600.0% during the fourth quarter. Virtu Financial LLC now owns 19,859 shares of the company’s stock worth $2,338,000 after acquiring an additional 17,022 shares during the period. Finally, Tower Research Capital LLC TRC raised its holdings in Direxion Daily NVDA Bull 2X Shares by 115.3% during the third quarter. Tower Research Capital LLC TRC now owns 27,706 shares of the company’s stock worth $3,633,000 after purchasing an additional 14,838 shares in the last quarter.

Direxion Daily NVDA Bull 2X Shares Company Profile

(Get Free Report)

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.

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