Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Trading 6.5% Higher – Here’s What Happened

Shares of Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) traded up 6.5% during mid-day trading on Wednesday . The stock traded as high as $122.89 and last traded at $122.37. Approximately 429,505 shares traded hands during mid-day trading, a decline of 13% from the average daily volume of 496,219 shares. The stock had previously closed at $114.90.

Direxion Daily NVDA Bull 2X Shares Price Performance

The firm has a market cap of $607.45 million, a PE ratio of 42.98 and a beta of 3.79. The company has a 50 day moving average price of $134.71 and a 200 day moving average price of $120.46.

Direxion Daily NVDA Bull 2X Shares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were given a $0.694 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $2.78 dividend on an annualized basis and a yield of 2.2%.

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

A number of institutional investors and hedge funds have recently made changes to their positions in NVDU. PayPay Securities Corp increased its holdings in Direxion Daily NVDA Bull 2X Shares by 52.5% in the fourth quarter. PayPay Securities Corp now owns 334 shares of the company’s stock valued at $39,000 after buying an additional 115 shares in the last quarter. Tucker Asset Management LLC purchased a new position in Direxion Daily NVDA Bull 2X Shares in the 4th quarter valued at about $69,000. Group One Trading LLC acquired a new stake in Direxion Daily NVDA Bull 2X Shares during the third quarter worth approximately $175,000. TRUE Private Wealth Advisors acquired a new position in Direxion Daily NVDA Bull 2X Shares in the third quarter valued at $204,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of Direxion Daily NVDA Bull 2X Shares during the 3rd quarter worth about $262,000.

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.