Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Up 6.6% – Should You Buy?

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) were up 6.6% during trading on Wednesday . The stock traded as high as $134.45 and last traded at $134.33. Approximately 241,111 shares were traded during mid-day trading, a decline of 51% from the average session volume of 490,134 shares. The stock had previously closed at $126.01.

Direxion Daily NVDA Bull 2X Shares Stock Performance

The firm’s 50-day simple moving average is $130.71 and its 200-day simple moving average is $121.21. The company has a market capitalization of $611.95 million, a price-to-earnings ratio of 42.98 and a beta of 3.79.

Direxion Daily NVDA Bull 2X Shares Announces Dividend

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

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

Several institutional investors and hedge funds have recently made changes to their positions in the company. PayPay Securities Corp boosted its holdings in shares of Direxion Daily NVDA Bull 2X Shares by 52.5% in the 4th quarter. PayPay Securities Corp now owns 334 shares of the company’s stock worth $39,000 after acquiring an additional 115 shares in the last quarter. Creative Planning boosted its stake in Direxion Daily NVDA Bull 2X Shares by 3.4% in the third quarter. Creative Planning now owns 4,902 shares of the company’s stock worth $643,000 after purchasing an additional 163 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its stake in Direxion Daily NVDA Bull 2X Shares by 4.6% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 4,200 shares of the company’s stock worth $494,000 after purchasing an additional 185 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of 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 purchasing an additional 351 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Direxion Daily NVDA Bull 2X Shares by 10.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,216 shares of the company’s stock valued at $496,000 after buying an additional 416 shares in the last quarter.

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.