Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Short Interest Update

Key Points

• Short interest surged 19.3% in March to 549,323 shares (about 9.8% of shares shorted), leaving a short-interest ratio of roughly 1.2 days based on average volume.
• NVDU is a 2x leveraged ETF on NVIDIA, launched Sept. 13, 2023, with a market cap of about $675.7M and high volatility (beta 4.13) and a 52-week range of $37.68–$165.77.
• Hedge funds increased exposure: Virtu Financial boosted its stake 600% to 19,859 shares in Q4, and several other firms (Beacon, StoneX, Simplex, Ausdal) also initiated or raised positions.

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU - ) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totaling 549,323 shares, an increase of 19.3% from the March 15th total of 460,512 shares. Approximately 9.8% of the shares of the stock are short sold. Based on an average trading volume of 452,641 shares, the short-interest ratio is presently 1.2 days.

Direxion Daily NVDA Bull 2X Shares Price Performance

Shares of NASDAQ NVDU traded up $3.96 during mid-day trading on Friday, reaching $127.97. The company's stock had a trading volume of 422,155 shares, compared to its average volume of 472,243. The firm has a market capitalization of $675.68 million, a PE ratio of 42.98 and a beta of 4.13. The stock has a fifty day moving average of $108.70 and a two-hundred day moving average of $117.72. Direxion Daily NVDA Bull 2X Shares has a 52 week low of $37.68 and a 52 week high of $165.77.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were paid a $0.5254 dividend. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.6%.

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

A number of hedge funds have recently made changes to their positions in the business. Virtu Financial LLC boosted its stake in shares of Direxion Daily NVDA Bull 2X Shares by 600.0% in the fourth quarter. Virtu Financial LLC now owns 19,859 shares of the company's stock worth $2,338,000 after acquiring an additional 17,022 shares during the period. Beacon Capital Management LLC purchased a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the fourth quarter worth about $404,000. Ausdal Financial Partners Inc. lifted its position in shares of Direxion Daily NVDA Bull 2X Shares by 20.3% in the fourth quarter. Ausdal Financial Partners Inc. now owns 4,328 shares of the company's stock worth $509,000 after buying an additional 729 shares in the last quarter. StoneX Group Inc. purchased a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the fourth quarter worth about $264,000. Finally, Simplex Trading LLC purchased a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the fourth quarter worth about $555,000.

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.

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