Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Stock Price Up 4.4% Following Dividend Announcement

Shares of Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) rose 4.4% on Tuesday following a dividend announcement from the company. The stock traded as high as $120.62 and last traded at $120.46. Approximately 376,431 shares were traded during trading, a decline of 63% from the average daily volume of 1,023,905 shares. The stock had previously closed at $115.40.

The newly announced dividend which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 23rd will be paid a $0.7196 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, December 23rd.

Direxion Daily NVDA Bull 2X Shares Stock Performance

The business’s fifty day moving average price is $124.78 and its two-hundred day moving average price is $117.38. The stock has a market capitalization of $576.75 million, a P/E ratio of 42.98 and a beta of 4.20.

Institutional Trading of Direxion Daily NVDA Bull 2X Shares

Several institutional investors have recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC purchased a new position in Direxion Daily NVDA Bull 2X Shares during the 3rd quarter valued at $42,000. Bogart Wealth LLC purchased a new position in shares of Direxion Daily NVDA Bull 2X Shares during the second quarter valued at $40,000. SOA Wealth Advisors LLC. bought a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the second quarter valued at about $44,000. Western Pacific Wealth Management LP lifted its stake in Direxion Daily NVDA Bull 2X Shares by 103.3% in the second 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. Finally, Group One Trading LLC purchased a new stake in Direxion Daily NVDA Bull 2X Shares in the third quarter worth about $175,000.

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.