Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Short Interest Down 37.1% in April

Key Points

• Short interest down 37.1% — Short interest fell to 345,432 shares as of April 15, a 37.1% decline from March 31, leaving a short-interest ratio of 0.8 days and about 7.3% of shares sold short.
• Shares traded at $142.52 (down $4.58) on heavy volume of 736,522; the fund has a market cap of $662.7M, a 12‑month range of $44.82–$165.77, and a beta of 4.13.
• 2x leveraged exposure to NVIDIA — NVDU is a Direxion ETF launched Sept. 13, 2023 that provides 2x daily exposure to NVIDIA stock, and it recently paid a quarterly dividend of $0.5254 (annualized $2.10, ~1.5% yield).

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU - ) was the target of a significant decline in short interest in the month of April. As of April 15th, there was short interest totaling 345,432 shares, a decline of 37.1% from the March 31st total of 549,323 shares. Based on an average daily volume of 418,796 shares, the short-interest ratio is currently 0.8 days. Approximately 7.3% of the shares of the company are sold short.

Direxion Daily NVDA Bull 2X Shares Stock Performance

Shares of NASDAQ NVDU traded down $4.58 during trading on Tuesday, hitting $142.52. The company had a trading volume of 736,522 shares, compared to its average volume of 480,166. Direxion Daily NVDA Bull 2X Shares has a 12 month low of $44.82 and a 12 month high of $165.77. The firm has a market capitalization of $662.72 million, a P/E ratio of 42.98 and a beta of 4.13. The stock has a 50 day simple moving average of $110.72 and a 200 day simple moving average of $117.48.

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 dividend of $0.5254 per share. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $2.10 annualized dividend and a yield of 1.5%.

Institutional Trading of Direxion Daily NVDA Bull 2X Shares

Institutional investors and hedge funds have recently modified their holdings of the company. PayPay Securities Corp boosted its holdings 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 buying an additional 115 shares during the period. Bogart Wealth LLC increased its holdings in Direxion Daily NVDA Bull 2X Shares by 25.0% in 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 stake in Direxion Daily NVDA Bull 2X Shares in the 4th quarter worth $69,000. Group One Trading LLC bought a new position in shares of Direxion Daily NVDA Bull 2X Shares during the 3rd quarter valued at about $175,000. Finally, TRUE Private Wealth Advisors purchased a new position in shares of Direxion Daily NVDA Bull 2X Shares during the third quarter valued at about $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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