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

Key Points

• Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) opened at $117.92 after gapping down from a previous close of $120.88, reflecting a current trading value of $117.50.
• The company announced an increase in its quarterly dividend, with shareholders receiving $0.6067 per share, up from a previous dividend of $0.42, leading to an annual yield of 2.0%.
• Institutional interest has grown significantly, with several hedge funds, including SBI Securities and Tower Research Capital, increasing their stakes in NVDU during the first two quarters of the year.

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $120.88, but opened at $117.92. Direxion Daily NVDA Bull 2X Shares shares last traded at $117.50, with a volume of 199,872 shares changing hands.

Direxion Daily NVDA Bull 2X Shares Stock Up 0.3%

The stock has a market capitalization of $663.77 million, a P/E ratio of 42.98 and a beta of 4.15. The business's 50 day simple moving average is $119.66 and its two-hundred day simple moving average is $85.39.

Direxion Daily NVDA Bull 2X Shares Increases Dividend

The firm 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. This represents a $2.43 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, June 24th.

Institutional Trading of Direxion Daily NVDA Bull 2X Shares

Large investors have recently added to or reduced their stakes in the stock. SBI Securities Co. Ltd. raised its position in shares of Direxion Daily NVDA Bull 2X Shares by 45.0% in the first quarter. SBI Securities Co. Ltd. now owns 71,171 shares of the company's stock valued at $3,744,000 after purchasing an additional 22,096 shares during the period. Flow Traders U.S. LLC bought a new stake in Direxion Daily NVDA Bull 2X Shares during the 2nd quarter valued at $2,175,000. HRT Financial LP bought a new stake in Direxion Daily NVDA Bull 2X Shares during the 2nd quarter valued at $1,925,000. Tower Research Capital LLC TRC raised its holdings in Direxion Daily NVDA Bull 2X Shares by 599.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 12,868 shares of the company's stock valued at $1,274,000 after acquiring an additional 11,027 shares during the period. Finally, Captrust Financial Advisors raised its holdings in Direxion Daily NVDA Bull 2X Shares by 68.2% during the 2nd quarter. Captrust Financial Advisors now owns 9,985 shares of the company's stock valued at $988,000 after acquiring an additional 4,050 shares during the period.

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.