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

Key Points

• The share price of Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) fell to $119.85 with a market cap of $605.24 million.
• Short interest in NVDU decreased by 38.0% in September, dropping to 146,700 shares.
• The fund recently paid a quarterly dividend of $0.4973 per share, reflecting an annual yield of 1.7%.

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU - ) saw a significant drop in short interest in September. As of September 30th, there was short interest totaling 146,700 shares, a drop of 38.0% from the September 15th total of 236,700 shares. Based on an average trading volume of 648,300 shares, the short-interest ratio is presently 0.2 days. Based on an average trading volume of 648,300 shares, the short-interest ratio is presently 0.2 days.

Direxion Daily NVDA Bull 2X Shares Stock Performance

Shares of NVDU traded down $2.18 during midday trading on Wednesday, hitting $119.85. 310,193 shares of the company traded hands, compared to its average volume of 1,085,444. The firm has a 50 day moving average of $122.53 and a 200-day moving average of $96.47. Direxion Daily NVDA Bull 2X Shares has a 52 week low of $32.63 and a 52 week high of $143.36. The stock has a market cap of $605.24 million, a price-to-earnings ratio of 42.98 and a beta of 4.15.

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 issued a dividend of $0.4973 per share. This represents a $1.99 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Tuesday, September 23rd.

Institutional Investors Weigh In On Direxion Daily NVDA Bull 2X Shares

Several institutional investors have recently bought and sold shares of NVDU. Bogart Wealth LLC purchased a new position in Direxion Daily NVDA Bull 2X Shares in the second quarter valued at $40,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Direxion Daily NVDA Bull 2X Shares during the 3rd quarter valued at about $42,000. SOA Wealth Advisors LLC. acquired a new position in Direxion Daily NVDA Bull 2X Shares in the 2nd quarter valued at about $44,000. Headlands Technologies LLC acquired a new position in Direxion Daily NVDA Bull 2X Shares in the 1st quarter valued at about $75,000. Finally, Western Pacific Wealth Management LP boosted its holdings in Direxion Daily NVDA Bull 2X Shares by 103.3% in the 2nd quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company's stock valued at $99,000 after purchasing an additional 508 shares during 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.

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