Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Down 7.8% – Here’s What Happened

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) shares traded down 7.8% during mid-day trading on Thursday . The stock traded as low as $124.18 and last traded at $126.31. 248,409 shares traded hands during trading, a decline of 48% from the average session volume of 475,886 shares. The stock had previously closed at $137.03.

Direxion Daily NVDA Bull 2X Shares Stock Down 8.3%

The firm has a market cap of $573.99 million, a price-to-earnings ratio of 42.98 and a beta of 4.13. The company’s 50-day moving average price is $111.75 and its 200-day moving average price is $117.74.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

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

Institutional Trading of Direxion Daily NVDA Bull 2X Shares

A number of large investors have recently made changes to their positions in NVDU. UBS Group AG increased its stake in shares of 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 buying an additional 149,978 shares during the period. IMC Chicago LLC purchased a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the fourth quarter worth approximately $5,211,000. HRT Financial LP purchased a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the second quarter worth approximately $1,925,000. Virtu Financial LLC increased its stake in shares of Direxion Daily NVDA Bull 2X Shares by 600.0% during the fourth quarter. Virtu Financial LLC now owns 19,859 shares of the company’s stock worth $2,338,000 after buying an additional 17,022 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in shares of 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 buying an additional 14,838 shares during the period.

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.