Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Short Interest Up 29.6% in December

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totaling 782,238 shares, an increase of 29.6% from the November 30th total of 603,779 shares. Approximately 16.4% of the shares of the stock are short sold. Based on an average daily volume of 616,358 shares, the short-interest ratio is presently 1.3 days. Based on an average daily volume of 616,358 shares, the short-interest ratio is presently 1.3 days. Approximately 16.4% of the shares of the stock are short sold.

Direxion Daily NVDA Bull 2X Shares Price Performance

Shares of NVDU opened at $119.14 on Wednesday. Direxion Daily NVDA Bull 2X Shares has a 1-year low of $32.63 and a 1-year high of $165.77. The company has a market capitalization of $569.49 million, a P/E ratio of 42.98 and a beta of 4.20. The firm’s 50 day simple moving average is $124.59 and its 200 day simple moving average is $119.00.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 23rd will be given a dividend of $0.7196 per share. The ex-dividend date is Tuesday, December 23rd. This represents a $2.88 annualized dividend and a dividend yield of 2.4%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVDU. Bogart Wealth LLC purchased a new stake in Direxion Daily NVDA Bull 2X Shares during the 2nd quarter valued at about $40,000. Halbert Hargrove Global Advisors LLC bought a new stake in Direxion Daily NVDA Bull 2X Shares in the third quarter valued at approximately $42,000. SOA Wealth Advisors LLC. bought a new stake in Direxion Daily NVDA Bull 2X Shares in the second quarter valued at approximately $44,000. Western Pacific Wealth Management LP boosted its stake in shares of Direxion Daily NVDA Bull 2X Shares by 103.3% during the second quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock valued at $99,000 after purchasing an additional 508 shares during the period. Finally, Group One Trading LLC bought a new position in shares of Direxion Daily NVDA Bull 2X Shares in the third quarter worth approximately $175,000.

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.