Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Stock Price Down 4% – What’s Next?

Shares of Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) traded down 4% during trading on Monday . The company traded as low as $118.48 and last traded at $120.17. 58,269 shares traded hands during trading, a decline of 88% from the average daily volume of 484,887 shares. The stock had previously closed at $125.22.

Direxion Daily NVDA Bull 2X Shares Stock Down 9.3%

The stock has a market capitalization of $545.23 million, a price-to-earnings ratio of 42.98 and a beta of 3.79. The company’s fifty day simple moving average is $130.09 and its 200 day simple moving average is $121.25.

Direxion Daily NVDA Bull 2X Shares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were issued a dividend of $0.694 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $2.78 annualized dividend and a dividend yield of 2.4%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. PayPay Securities Corp lifted its position in Direxion Daily NVDA Bull 2X Shares by 52.5% during the fourth quarter. PayPay Securities Corp now owns 334 shares of the company’s stock worth $39,000 after acquiring an additional 115 shares during the last quarter. Creative Planning grew its position in shares of 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 valued at $643,000 after purchasing an additional 163 shares during the last quarter. Wealthcare Advisory Partners LLC grew its position in shares of 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 valued at $494,000 after purchasing an additional 185 shares during the last quarter. SBI Securities Co. Ltd. grew its position in shares of Direxion Daily NVDA Bull 2X Shares by 0.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 38,293 shares of the company’s stock valued at $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% 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 during the period.

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.