Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Trading Down 6% – Here’s What Happened

Shares of Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) dropped 6% during trading on Tuesday . The company traded as low as $118.86 and last traded at $119.01. Approximately 217,807 shares were traded during trading, a decline of 79% from the average daily volume of 1,051,073 shares. The stock had previously closed at $126.56.

Direxion Daily NVDA Bull 2X Shares Trading Down 6.4%

The firm has a 50-day moving average price of $129.56 and a 200-day moving average price of $109.95. The company has a market capitalization of $564.80 million, a price-to-earnings ratio of 42.98 and a beta of 4.20.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd were given a $0.4973 dividend. The ex-dividend date was Tuesday, September 23rd. This represents a $1.99 annualized dividend and a yield of 1.7%.

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

A number of institutional investors have recently bought and sold shares of NVDU. Bogart Wealth LLC acquired a new position in shares of Direxion Daily NVDA Bull 2X Shares in the second quarter worth about $40,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the third quarter valued at $42,000. SOA Wealth Advisors LLC. purchased a new position in shares of Direxion Daily NVDA Bull 2X Shares during the second quarter valued at $44,000. Headlands Technologies LLC acquired a new position in Direxion Daily NVDA Bull 2X Shares during the first quarter valued at $75,000. Finally, Western Pacific Wealth Management LP boosted its position in Direxion Daily NVDA Bull 2X Shares by 103.3% during the 2nd quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock worth $99,000 after acquiring an additional 508 shares during the period.

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.