Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Trading Up 8.1% – Here’s Why

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) rose 8.1% during trading on Wednesday . The stock traded as high as $145.72 and last traded at $145.00. Approximately 236,353 shares changed hands during trading, a decline of 49% from the average session volume of 464,918 shares. The stock had previously closed at $134.12.

Direxion Daily NVDA Bull 2X Shares Stock Performance

The firm has a market cap of $668.09 million, a P/E ratio of 42.98 and a beta of 3.81. The stock’s 50 day simple moving average is $127.17 and its 200 day simple moving average is $124.48.

Direxion Daily NVDA Bull 2X Shares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were paid a $0.694 dividend. This represents a $2.78 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Tuesday, June 23rd.

Institutional Investors Weigh In On Direxion Daily NVDA Bull 2X Shares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVDU. Beacon Capital Management LLC raised its stake in shares of Direxion Daily NVDA Bull 2X Shares by 3.7% during the second quarter. Beacon Capital Management LLC now owns 3,293 shares of the company’s stock valued at $390,000 after acquiring an additional 117 shares in the last quarter. Creative Planning raised its position in shares of Direxion Daily NVDA Bull 2X Shares by 3.4% during the 3rd quarter. Creative Planning now owns 4,902 shares of the company’s stock valued at $643,000 after buying an additional 163 shares during the period. SBI Securities Co. Ltd. increased its position in shares of Direxion Daily NVDA Bull 2X Shares by 0.9% during the 4th quarter. SBI Securities Co. Ltd. now owns 38,293 shares of the company’s stock worth $4,508,000 after purchasing an additional 351 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Direxion Daily NVDA Bull 2X Shares by 10.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,216 shares of the company’s stock worth $496,000 after purchasing an additional 416 shares in the last quarter. Finally, Tucker Asset Management LLC purchased a new stake in Direxion Daily NVDA Bull 2X Shares during the 4th quarter valued at approximately $69,000.

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.