Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Sees Large Decline in Short Interest

Key Points

• Short interest in Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) decreased by 26.9% in September, totaling 236,700 shares as of September 15.
• The firm has announced a quarterly dividend of $0.4973 per share, leading to an annualized yield of 1.5%.
• Several large investors, including Bogart Wealth LLC and Chicago Partners Investment Group LLC, have recently purchased stakes in the stock, indicating increasing institutional interest.

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU - ) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totaling 236,700 shares, a decrease of 26.9% from the August 31st total of 323,700 shares. Based on an average trading volume of 689,500 shares, the days-to-cover ratio is currently 0.3 days. Based on an average trading volume of 689,500 shares, the days-to-cover ratio is currently 0.3 days.

Direxion Daily NVDA Bull 2X Shares Trading Down 2.3%

Direxion Daily NVDA Bull 2X Shares stock opened at $129.35 on Tuesday. The firm has a market cap of $666.15 million, a price-to-earnings ratio of 42.98 and a beta of 4.15. The stock has a fifty day simple moving average of $122.26 and a two-hundred day simple moving average of $91.19. Direxion Daily NVDA Bull 2X Shares has a 12 month low of $32.63 and a 12 month high of $142.52.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd were given a dividend of $0.4973 per share. The ex-dividend date of this dividend was Tuesday, September 23rd. This represents a $1.99 annualized dividend and a dividend yield of 1.5%.

Institutional Trading of Direxion Daily NVDA Bull 2X Shares

Large investors have recently made changes to their positions in the stock. Bogart Wealth LLC bought a new stake in Direxion Daily NVDA Bull 2X Shares in the 2nd quarter worth approximately $40,000. SOA Wealth Advisors LLC. purchased a new position in shares of Direxion Daily NVDA Bull 2X Shares in the 2nd quarter worth $44,000. Western Pacific Wealth Management LP bought a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the first quarter worth $26,000. Headlands Technologies LLC purchased a new stake in Direxion Daily NVDA Bull 2X Shares during the first quarter valued at $75,000. Finally, Chicago Partners Investment Group LLC purchased a new stake in Direxion Daily NVDA Bull 2X Shares during the second quarter valued at $181,000.

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.

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