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

Key Points

• Direxion Daily NVDA Bull 2X Shares experienced a significant decline, opening at $125.11 after closing at $128.07, with shares currently trading at $123.00, marking a 6.7% drop.
• The fund, launched on September 13, 2023, provides 2x leveraged exposure to the daily price movements of NVIDIA stock and has a market capitalization of $669.20 million.
• Notable institutional investors have recently increased their positions in NVDU, including SBI Securities Co. Ltd. which boosted its holdings by 45% in the first quarter.

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU - )'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $128.07, but opened at $125.11. Direxion Daily NVDA Bull 2X Shares shares last traded at $123.00, with a volume of 264,561 shares traded.

Direxion Daily NVDA Bull 2X Shares Trading Down 6.7%

The company has a market capitalization of $669.20 million, a P/E ratio of 42.98 and a beta of 4.15. The company's 50 day moving average is $120.32 and its 200-day moving average is $86.63.

Institutional Trading of Direxion Daily NVDA Bull 2X Shares

A number of institutional investors have recently made changes to their positions in NVDU. SBI Securities Co. Ltd. boosted its holdings in shares of Direxion Daily NVDA Bull 2X Shares by 45.0% during the 1st 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. Flow Traders U.S. LLC purchased a new position in shares of Direxion Daily NVDA Bull 2X Shares in the second quarter worth approximately $2,175,000. HRT Financial LP purchased a new position in shares of Direxion Daily NVDA Bull 2X Shares in the second quarter worth approximately $1,925,000. Tower Research Capital LLC TRC boosted its holdings in shares of Direxion Daily NVDA Bull 2X Shares by 599.0% in the second quarter. Tower Research Capital LLC TRC now owns 12,868 shares of the company's stock worth $1,274,000 after buying an additional 11,027 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Direxion Daily NVDA Bull 2X Shares in the second quarter worth approximately $654,000.

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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