Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Trading Down 7.2% – Here’s Why

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU)’s share price were down 7.2% during trading on Friday . The company traded as low as $115.00 and last traded at $117.22. Approximately 155,901 shares changed hands during trading, a decline of 68% from the average session volume of 492,175 shares. The stock had previously closed at $126.33.

Direxion Daily NVDA Bull 2X Shares Stock Down 4.6%

The business has a fifty day simple moving average of $133.18 and a two-hundred day simple moving average of $120.98. The company has a market cap of $584.47 million, a P/E ratio of 42.98 and a beta of 3.79.

Direxion Daily NVDA Bull 2X Shares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were given a dividend of $0.694 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $2.78 annualized dividend and a dividend yield of 2.3%.

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

Several institutional investors have recently made changes to their positions in NVDU. UBS Group AG raised its stake in Direxion Daily NVDA Bull 2X Shares by 120.0% during 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 period. IMC Chicago LLC bought a new position in Direxion Daily NVDA Bull 2X Shares in the 4th quarter worth approximately $5,211,000. HRT Financial LP purchased a new stake in Direxion Daily NVDA Bull 2X Shares during the 2nd quarter valued at approximately $1,925,000. Virtu Financial LLC grew its holdings in Direxion Daily NVDA Bull 2X Shares by 600.0% during the 4th quarter. Virtu Financial LLC now owns 19,859 shares of the company’s stock valued at $2,338,000 after buying an additional 17,022 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of 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 valued at $3,633,000 after buying an additional 14,838 shares during the last quarter.

Direxion Daily NVDA Bull 2X Shares Company Profile

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.