Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Trading Down 6% – Here’s What Happened

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) traded down 6% during trading on Thursday . The company traded as low as $107.63 and last traded at $109.66. 354,155 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 1,039,082 shares. The stock had previously closed at $116.65.

Direxion Daily NVDA Bull 2X Shares Price Performance

The stock’s fifty day moving average price is $127.62 and its 200 day moving average price is $115.55. The stock has a market capitalization of $504.67 million, a P/E ratio of 42.98 and a beta of 4.20.

Direxion Daily NVDA Bull 2X Shares Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 10th will be issued a $4.4389 dividend. The ex-dividend date is Wednesday, December 10th. This represents a $17.76 annualized dividend and a dividend yield of 16.8%. This is a positive change from Direxion Daily NVDA Bull 2X Shares’s previous quarterly dividend of $0.50.

Institutional Trading of Direxion Daily NVDA Bull 2X Shares

Several institutional investors and hedge funds have recently made changes to their positions in NVDU. Bogart Wealth LLC purchased a new position in Direxion Daily NVDA Bull 2X Shares during the 2nd quarter valued at about $40,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Direxion Daily NVDA Bull 2X Shares during the third quarter valued at approximately $42,000. SOA Wealth Advisors LLC. purchased a new position in Direxion Daily NVDA Bull 2X Shares during the second quarter valued at approximately $44,000. Western Pacific Wealth Management LP raised its stake in Direxion Daily NVDA Bull 2X Shares by 103.3% in the second quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock worth $99,000 after buying an additional 508 shares in the last quarter. Finally, Group One Trading LLC bought a new position in Direxion Daily NVDA Bull 2X Shares in the third quarter worth approximately $175,000.

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.