Short Interest in Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Decreases By 41.5%

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) was the recipient of a significant drop in short interest in May. As of May 29th, there was short interest totaling 221,402 shares, a drop of 41.5% from the May 14th total of 378,732 shares. Approximately 5.0% of the shares of the company are short sold. Based on an average daily volume of 653,345 shares, the short-interest ratio is currently 0.3 days.

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

Several hedge funds have recently bought and sold shares of NVDU. UBS Group AG grew its stake in Direxion Daily NVDA Bull 2X Shares by 120.0% during the third quarter. UBS Group AG now owns 275,000 shares of the company’s stock valued at $36,061,000 after acquiring an additional 149,978 shares in the last quarter. IMC Chicago LLC purchased a new position in Direxion Daily NVDA Bull 2X Shares during the fourth quarter valued at approximately $5,211,000. HRT Financial LP purchased a new position in Direxion Daily NVDA Bull 2X Shares during the second quarter valued at approximately $1,925,000. Virtu Financial LLC grew its stake in Direxion Daily NVDA Bull 2X Shares by 600.0% during the fourth quarter. Virtu Financial LLC now owns 19,859 shares of the company’s stock valued at $2,338,000 after acquiring an additional 17,022 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in 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 acquiring an additional 14,838 shares in the last quarter.

Direxion Daily NVDA Bull 2X Shares Price Performance

Shares of NVDU traded up $9.01 during trading hours on Monday, hitting $136.36. The company’s stock had a trading volume of 440,007 shares, compared to its average volume of 517,862. The company has a market cap of $599.98 million, a price-to-earnings ratio of 42.98 and a beta of 3.73. The business has a 50 day simple moving average of $134.01 and a two-hundred day simple moving average of $119.89. Direxion Daily NVDA Bull 2X Shares has a 52-week low of $81.02 and a 52-week high of $172.89.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were paid a $0.5254 dividend. The ex-dividend date was Tuesday, March 24th. This represents a $2.10 annualized dividend and a dividend yield of 1.5%.

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.