Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Gap Down - Should You Sell?

Key Points

• NVDU shares gapped down before the open from $147.10 to $137.23, last trading at $141.75 (down about 2.4%) on volume of 357,634 shares.
• NVDU is a 2x leveraged ETF that provides double the daily exposure to NVIDIA stock; it launched on Sept. 13, 2023, and has a market cap of about $667.8 million with a beta of 4.13.
• The fund declared and paid a quarterly dividend of $0.5254 (annualized $2.10), implying a yield of roughly 1.5%, with an ex-dividend date of March 24.

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU - ) shares gapped down before the market opened on Tuesday . The stock had previously closed at $147.10, but opened at $137.23. Direxion Daily NVDA Bull 2X Shares shares last traded at $141.75, with a volume of 357,634 shares changing hands.

Direxion Daily NVDA Bull 2X Shares Stock Down 2.4%

The business's 50-day moving average price is $110.72 and its 200 day moving average price is $117.48. The company has a market capitalization of $667.79 million, a P/E 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. Shareholders of record on Tuesday, March 24th were issued a $0.5254 dividend. This represents a $2.10 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, March 24th.

Institutional Investors Weigh In On Direxion Daily NVDA Bull 2X Shares

Several large investors have recently added to or reduced their stakes in the business. PayPay Securities Corp increased its stake in Direxion Daily NVDA Bull 2X Shares by 52.5% in the 4th quarter. PayPay Securities Corp now owns 334 shares of the company's stock worth $39,000 after acquiring an additional 115 shares during the last quarter. Bogart Wealth LLC boosted its position in shares of Direxion Daily NVDA Bull 2X Shares by 25.0% during the 3rd quarter. Bogart Wealth LLC now owns 500 shares of the company's stock valued at $66,000 after acquiring an additional 100 shares during the last quarter. Tucker Asset Management LLC purchased a new position in shares of Direxion Daily NVDA Bull 2X Shares during the fourth quarter worth about $69,000. Group One Trading LLC bought a new position in shares of Direxion Daily NVDA Bull 2X Shares in the third quarter worth approximately $175,000. Finally, TRUE Private Wealth Advisors purchased a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the 3rd quarter valued at $204,000.

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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