Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Down 7.8% - Here's What Happened

Key Points

• NVDU fell 7.8% intraday to $126.31 on Thursday (from a prior close of $137.03) with ~248,409 shares traded, about 48% below its average daily volume.
• The ETF delivers 2x leveraged exposure to NVIDIA, was launched on Sept. 13, 2023, and has a market cap of $573.99M and a high beta of 4.13.
• Direxion paid a quarterly dividend of $0.5254 per share (annualized $2.10, yield 1.7%), and several institutions — notably UBS — materially increased their holdings in the fund.

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU - ) dropped 7.8% during trading on Thursday . The stock traded as low as $124.18 and last traded at $126.31. Approximately 248,409 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 475,886 shares. The stock had previously closed at $137.03.

Direxion Daily NVDA Bull 2X Shares Stock Performance

The firm's 50 day simple moving average is $111.75 and its 200-day simple moving average is $117.74. The company has a market cap of $573.99 million, a price-to-earnings ratio of 42.98 and a beta of 4.13.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were given a dividend of $0.5254 per share. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $2.10 annualized dividend and a dividend yield of 1.7%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. UBS Group AG lifted its position in Direxion Daily NVDA Bull 2X Shares by 120.0% in the third quarter. UBS Group AG now owns 275,000 shares of the company's stock valued at $36,061,000 after buying an additional 149,978 shares during the last quarter. IMC Chicago LLC acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the fourth quarter worth about $5,211,000. SBI Securities Co. Ltd. lifted 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. Tower Research Capital LLC TRC lifted its position in shares of Direxion Daily NVDA Bull 2X Shares by 115.3% during the third quarter. Tower Research Capital LLC TRC now owns 27,706 shares of the company's stock worth $3,633,000 after purchasing an additional 14,838 shares in the last quarter. Finally, Jump Financial LLC lifted its position in shares of Direxion Daily NVDA Bull 2X Shares by 206.1% during the third quarter. Jump Financial LLC now owns 20,221 shares of the company's stock worth $2,652,000 after purchasing an additional 13,614 shares in the last quarter.

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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