Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Gap Up - Time to Buy?

Key Points

• The shares of Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) opened significantly higher at $119.43, up from a previous close of $111.74, with the last trading price at $120.30.
• The firm recently increased its quarterly dividend to $0.6067 per share, leading to an annualized dividend of $2.43 and a yield of 2.0%.
• Several institutional investors, including Captrust Financial Advisors, have increased their stakes in NVDU, indicating growing institutional interest in this ETF.

Shares of Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $111.74, but opened at $119.43. Direxion Daily NVDA Bull 2X Shares shares last traded at $120.30, with a volume of 458,133 shares traded.

Direxion Daily NVDA Bull 2X Shares Price Performance

The stock's 50-day moving average price is $118.57 and its 200 day moving average price is $84.25. The firm has a market cap of $676.54 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 disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 24th were given 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 dividend on an annualized basis 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

A number of institutional investors have recently made changes to their positions in NVDU. SBI Securities Co. Ltd. lifted 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 worth $3,744,000 after purchasing an additional 22,096 shares in the last quarter. Flow Traders U.S. LLC bought a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the second quarter worth $2,175,000. HRT Financial LP bought a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the second quarter worth $1,925,000. Tower Research Capital LLC TRC raised its position in Direxion Daily NVDA Bull 2X Shares by 599.0% during the second quarter. Tower Research Capital LLC TRC now owns 12,868 shares of the company's stock worth $1,274,000 after acquiring an additional 11,027 shares in the last quarter. Finally, Jump Financial LLC bought a new stake in Direxion Daily NVDA Bull 2X Shares during the second quarter worth $654,000.

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.