Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Down 6.5% - Here's Why

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU - Get Free Report) fell 6.5% on Tuesday . The stock traded as low as $106.46 and last traded at $108.15. 301,668 shares changed hands during trading, a decline of 77% from the average session volume of 1,299,026 shares. The stock had previously closed at $115.62.

Direxion Daily NVDA Bull 2X Shares Stock Down 4.0%

The business has a fifty day simple moving average of $87.25 and a two-hundred day simple moving average of $75.08. The company has a market cap of $701.65 million, a P/E ratio of 42.98 and a beta of 4.15.

Direxion Daily NVDA Bull 2X Shares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 24th were issued a $0.6067 dividend. 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. This represents a $2.43 dividend on an annualized basis and a dividend yield of 2.19%.

Hedge Funds Weigh In On Direxion Daily NVDA Bull 2X Shares

Hedge funds and other institutional investors have recently modified their holdings of the business. SBI Securities Co. Ltd. raised its holdings in shares of Direxion Daily NVDA Bull 2X Shares by 45.0% during the first quarter. SBI Securities Co. Ltd. now owns 71,171 shares of the company's stock valued at $3,744,000 after acquiring an additional 22,096 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Direxion Daily NVDA Bull 2X Shares during the fourth quarter worth $1,155,000. Narus Financial Partners LLC purchased a new position in Direxion Daily NVDA Bull 2X Shares in the first quarter valued at $246,000. New Millennium Group LLC purchased a new stake in Direxion Daily NVDA Bull 2X Shares during the 1st quarter worth about $171,000. Finally, Jane Street Group LLC lifted its holdings in Direxion Daily NVDA Bull 2X Shares by 54.8% during the 4th quarter. Jane Street Group LLC now owns 81,848 shares of the company's stock worth $7,660,000 after buying an additional 28,963 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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