Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Sees Large Decrease in Short Interest

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU - Get Free Report) was the target of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 934,800 shares, a decline of 15.0% from the March 15th total of 1,100,000 shares. Approximately 10.2% of the shares of the company are sold short. Based on an average daily volume of 1,598,500 shares, the short-interest ratio is presently 0.6 days.

Hedge Funds Weigh In On Direxion Daily NVDA Bull 2X Shares

Hedge funds have recently bought and sold shares of the stock. Beaird Harris Wealth Management LLC acquired a new position in shares of Direxion Daily NVDA Bull 2X Shares in the 3rd quarter valued at $557,000. SBI Securities Co. Ltd. acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the fourth quarter worth approximately $4,593,000. Virtu Financial LLC acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the 4th quarter valued at about $1,155,000. Lake Street Advisors Group LLC bought a new position in Direxion Daily NVDA Bull 2X Shares during the 4th quarter worth approximately $411,000. Finally, Barclays PLC increased its stake in Direxion Daily NVDA Bull 2X Shares by 45.0% during the third quarter. Barclays PLC now owns 1,450 shares of the company's stock valued at $136,000 after purchasing an additional 450 shares during the last quarter.

Direxion Daily NVDA Bull 2X Shares Price Performance

NASDAQ NVDU traded up $4.01 on Friday, hitting $51.09. 1,073,811 shares of the company's stock were exchanged, compared to its average volume of 1,560,882. The firm's 50-day moving average price is $57.87 and its two-hundred day moving average price is $89.46. Direxion Daily NVDA Bull 2X Shares has a fifty-two week low of $32.63 and a fifty-two week high of $146.87. The firm has a market cap of $460.83 million, a price-to-earnings ratio of 28.79 and a beta of 4.15.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th were paid a $0.4201 dividend. The ex-dividend date of this dividend was Tuesday, March 25th. This represents a $1.68 dividend on an annualized basis and a yield of 3.29%.

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.