Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Gap Up – Should You Buy?

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) shares gapped up prior to trading on Wednesday . The stock had previously closed at $40.74, but opened at $42.63. Direxion Daily NVDA Bull 2X Shares shares last traded at $53.13, with a volume of 3,640,763 shares trading hands.

Direxion Daily NVDA Bull 2X Shares Stock Performance

The company has a market capitalization of $528.92 million, a price-to-earnings ratio of 28.79 and a beta of 4.15. The company has a fifty day simple moving average of $66.92 and a two-hundred day simple moving average of $94.02.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th were paid a $0.4201 dividend. The ex-dividend date was Tuesday, March 25th. This represents a $1.68 annualized dividend and a yield of 3.03%.

Institutional Trading of Direxion Daily NVDA Bull 2X Shares

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. purchased a new position in shares of Direxion Daily NVDA Bull 2X Shares during the 4th quarter worth about $37,000. PayPay Securities Corp acquired a new position in Direxion Daily NVDA Bull 2X Shares during the fourth quarter worth approximately $47,000. Tucker Asset Management LLC purchased a new position in Direxion Daily NVDA Bull 2X Shares during the fourth quarter worth approximately $51,000. Tower Research Capital LLC TRC boosted its holdings in shares of Direxion Daily NVDA Bull 2X Shares by 9,110.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 921 shares of the company’s stock valued at $86,000 after purchasing an additional 911 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Direxion Daily NVDA Bull 2X Shares by 45.0% during the 3rd quarter. Barclays PLC now owns 1,450 shares of the company’s stock worth $136,000 after buying an additional 450 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.