Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Stock Price Down 1.8% - Should You Sell?

Key Points

• Direxion Daily NVDA Bull 2X Shares saw a decline of 1.8%, trading last at $124.06 with a significant drop in trading volume, down 56% from its average daily volume.
• The fund recently increased its quarterly dividend to $0.6067 per share, up from $0.42, resulting in a 2.0% dividend yield.
• Several institutional investors, including JPMorgan Chase & Co. and Tower Research Capital LLC, have recently modified their holdings in Direxion Daily NVDA Bull 2X Shares.

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU - Get Free Report)'s stock price fell 1.8% during mid-day trading on Tuesday . The company traded as low as $120.81 and last traded at $124.06. 549,655 shares were traded during mid-day trading, a decline of 56% from the average session volume of 1,255,002 shares. The stock had previously closed at $126.38.

Direxion Daily NVDA Bull 2X Shares Stock Up 2.0%

The firm has a market cap of $728.78 million, a price-to-earnings ratio of 42.98 and a beta of 4.15. The stock has a fifty day moving average price of $101.92 and a 200-day moving average price of $77.75.

Direxion Daily NVDA Bull 2X Shares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 24th were paid a $0.6067 dividend. This represents a $2.43 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from Direxion Daily NVDA Bull 2X Shares's previous quarterly dividend of $0.42. The ex-dividend date was Tuesday, June 24th.

Institutional Trading of Direxion Daily NVDA Bull 2X Shares

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. purchased a new stake in Direxion Daily NVDA Bull 2X Shares during the fourth quarter worth $37,000. Bogart Wealth LLC acquired a new stake in Direxion Daily NVDA Bull 2X Shares during the second quarter worth about $40,000. SOA Wealth Advisors LLC. acquired a new stake in Direxion Daily NVDA Bull 2X Shares during the second quarter worth about $44,000. Western Pacific Wealth Management LP acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the first quarter valued at about $26,000. Finally, Tower Research Capital LLC TRC grew its stake in Direxion Daily NVDA Bull 2X Shares by 9,110.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 921 shares of the company's stock valued at $86,000 after purchasing an additional 911 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.