Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Down 6.5% – What’s Next?

Shares of Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) traded down 6.5% during mid-day trading on Tuesday . The company traded as low as $108.37 and last traded at $109.20. 409,372 shares were traded during mid-day trading, a decline of 8% from the average session volume of 444,368 shares. The stock had previously closed at $116.77.

Direxion Daily NVDA Bull 2X Shares Stock Down 8.6%

The company has a market cap of $567.70 million, a PE ratio of 42.98 and a beta of 4.20. The business’s 50 day moving average price is $118.13 and its 200-day moving average price is $121.62.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 23rd were paid a dividend of $0.7196 per share. The ex-dividend date was Tuesday, December 23rd. This represents a $2.88 annualized dividend and a dividend yield of 2.7%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Wealthcare Advisory Partners LLC increased its holdings in Direxion Daily NVDA Bull 2X Shares by 4.6% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 4,200 shares of the company’s stock worth $494,000 after purchasing an additional 185 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the third quarter worth $262,000. Ausdal Financial Partners Inc. acquired a new stake in Direxion Daily NVDA Bull 2X Shares in the third quarter valued at $472,000. Creative Planning raised its holdings 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 valued at $643,000 after acquiring an additional 163 shares in the last quarter. Finally, TRUE Private Wealth Advisors bought a new position in Direxion Daily NVDA Bull 2X Shares during the 3rd quarter valued at $204,000.

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.