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

Direxion Daily NVDA Bull 2X ETF (NASDAQ:NVDU) shares gapped up before the market opened on Monday. The stock had previously closed at $141.71, but opened at $147.39. Direxion Daily NVDA Bull 2X ETF shares last traded at $148.9670, with a volume of 175,422 shares changing hands.

Direxion Daily NVDA Bull 2X ETF Stock Up 4.3%

The company’s 50-day moving average price is $134.45 and its 200-day moving average price is $127.96. The firm has a market cap of $549.79 million, a price-to-earnings ratio of 42.98 and a beta of 3.81.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NVDU. Virtu Financial LLC boosted its holdings in Direxion Daily NVDA Bull 2X ETF by 600.0% in the 4th 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 last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Direxion Daily NVDA Bull 2X ETF by 29.8% during the first quarter. PNC Financial Services Group Inc. now owns 5,471 shares of the company’s stock valued at $527,000 after acquiring an additional 1,255 shares during the last quarter. Beacon Capital Management LLC raised its holdings in shares of Direxion Daily NVDA Bull 2X ETF by 3.7% during the second quarter. Beacon Capital Management LLC now owns 3,293 shares of the company’s stock valued at $390,000 after acquiring an additional 117 shares during the last quarter. Finally, Tucker Asset Management LLC purchased a new position in shares of Direxion Daily NVDA Bull 2X ETF in the second quarter valued at approximately $70,000.

About Direxion Daily NVDA Bull 2X ETF

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.