Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Down 7.9% - Here's Why

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU - Get Free Report)'s share price dropped 7.9% during mid-day trading on Tuesday . The company traded as low as $91.04 and last traded at $91.13. Approximately 410,568 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 1,369,172 shares. The stock had previously closed at $98.99.

Direxion Daily NVDA Bull 2X Shares Price Performance

The stock has a 50-day simple moving average of $75.02 and a 200-day simple moving average of $74.48. The stock has a market cap of $901.86 million, a P/E ratio of 42.98 and a beta of 4.15.

Direxion Daily NVDA Bull 2X Shares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 24th were given a $0.6067 dividend. This represents a $2.43 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Tuesday, June 24th. This is a boost from Direxion Daily NVDA Bull 2X Shares's previous quarterly dividend of $0.42.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC bought a new stake in Direxion Daily NVDA Bull 2X Shares during the 4th quarter worth $1,155,000. JPMorgan Chase & Co. bought a new stake in Direxion Daily NVDA Bull 2X Shares during the 4th quarter worth $37,000. Tucker Asset Management LLC bought a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the fourth quarter worth about $51,000. Tower Research Capital LLC TRC grew its holdings in shares of Direxion Daily NVDA Bull 2X Shares by 9,110.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 921 shares of the company's stock worth $86,000 after purchasing an additional 911 shares during the last quarter. Finally, Optiver Holding B.V. grew its holdings in shares of Direxion Daily NVDA Bull 2X Shares by 2,158.3% during the fourth quarter. Optiver Holding B.V. now owns 42,389 shares of the company's stock worth $3,967,000 after purchasing an additional 40,512 shares during 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.