Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Stock Price Down 7.2% – What’s Next?

Shares of Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) fell 7.2% on Friday . The company traded as low as $115.00 and last traded at $117.22. 155,901 shares traded hands during trading, a decline of 68% from the average daily volume of 492,175 shares. The stock had previously closed at $126.33.

Direxion Daily NVDA Bull 2X Shares Stock Down 2.5%

The firm has a 50 day simple moving average of $133.65 and a 200-day simple moving average of $120.98. The company has a market cap of $601.26 million, a PE ratio of 42.98 and a beta of 3.79.

Direxion Daily NVDA Bull 2X Shares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were issued a $0.694 dividend. This represents a $2.78 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Tuesday, June 23rd.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. PayPay Securities Corp raised its stake in shares of Direxion Daily NVDA Bull 2X Shares by 52.5% during the 4th quarter. PayPay Securities Corp now owns 334 shares of the company’s stock worth $39,000 after acquiring an additional 115 shares in the last quarter. Creative Planning grew 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 worth $643,000 after purchasing an additional 163 shares during the last quarter. Wealthcare Advisory Partners LLC grew its holdings in 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 worth $494,000 after purchasing an additional 185 shares during the last quarter. SBI Securities Co. Ltd. increased its position in shares of Direxion Daily NVDA Bull 2X Shares by 0.9% during the fourth quarter. SBI Securities Co. Ltd. now owns 38,293 shares of the company’s stock worth $4,508,000 after purchasing an additional 351 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position 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 in the last quarter.

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.