Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Sees Significant Decrease in Short Interest

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) was the recipient of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totaling 345,432 shares, a decrease of 37.1% from the March 31st total of 549,323 shares. Based on an average daily trading volume, of 418,796 shares, the days-to-cover ratio is presently 0.8 days. Currently, 7.3% of the company’s shares are short sold.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS Group AG increased 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 worth $36,061,000 after acquiring an additional 149,978 shares during the last quarter. IMC Chicago LLC acquired a new stake in Direxion Daily NVDA Bull 2X Shares during the fourth quarter worth about $5,211,000. SBI Securities Co. Ltd. increased its stake in Direxion Daily NVDA Bull 2X Shares by 0.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 38,293 shares of the company’s stock worth $4,508,000 after acquiring an additional 351 shares during the last quarter. Tower Research Capital LLC TRC increased 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 worth $3,633,000 after acquiring an additional 14,838 shares during the last quarter. Finally, Jump Financial LLC increased its stake in Direxion Daily NVDA Bull 2X Shares by 206.1% during the third quarter. Jump Financial LLC now owns 20,221 shares of the company’s stock worth $2,652,000 after acquiring an additional 13,614 shares during the last quarter.

Direxion Daily NVDA Bull 2X Shares Stock Performance

NASDAQ NVDU traded down $10.19 during trading hours on Thursday, hitting $126.84. 183,028 shares of the company’s stock were exchanged, compared to its average volume of 475,163. The business’s 50 day moving average is $111.75 and its 200-day moving average is $117.74. Direxion Daily NVDA Bull 2X Shares has a 12-month low of $50.78 and a 12-month high of $165.77. The firm has a market capitalization of $579.66 million, a P/E ratio of 42.98 and a beta of 4.13.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were paid a dividend of $0.5254 per share. The ex-dividend date was Tuesday, March 24th. This represents a $2.10 annualized dividend and a yield of 1.7%.

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.