Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Reaches New 1-Year High – Here’s Why

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $166.80 and last traded at $164.24, with a volume of 209442 shares. The stock had previously closed at $157.85.

Direxion Daily NVDA Bull 2X Shares Stock Performance

The firm has a market capitalization of $689.61 million, a price-to-earnings ratio of 42.98 and a beta of 3.81. The company has a fifty day moving average of $117.91 and a two-hundred day moving average of $119.20.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were issued a $0.5254 dividend. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $2.10 annualized dividend and a yield of 1.3%.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVDU. Jump Financial LLC acquired a new position in Direxion Daily NVDA Bull 2X Shares in the 2nd quarter valued at $654,000. HRT Financial LP acquired a new position in shares of Direxion Daily NVDA Bull 2X Shares during the 2nd quarter worth $1,925,000. Captrust Financial Advisors raised its holdings in shares of Direxion Daily NVDA Bull 2X Shares by 68.2% during the 2nd quarter. Captrust Financial Advisors now owns 9,985 shares of the company’s stock worth $988,000 after buying an additional 4,050 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Direxion Daily NVDA Bull 2X Shares by 599.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 12,868 shares of the company’s stock worth $1,274,000 after buying an additional 11,027 shares in the last quarter. Finally, FWG Investments LLC. acquired a new position in shares of Direxion Daily NVDA Bull 2X Shares during the 3rd quarter worth $306,000.

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.