Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Stock Price Up 11.4% - Still a Buy?

Shares of Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU - Get Free Report) traded up 11.4% on Thursday . The company traded as high as $83.39 and last traded at $82.39. 560,189 shares were traded during trading, a decline of 62% from the average session volume of 1,457,549 shares. The stock had previously closed at $73.94.

Direxion Daily NVDA Bull 2X Shares Stock Up 3.5%

The stock has a market capitalization of $684.90 million, a P/E ratio of 42.98 and a beta of 4.15. The company has a 50-day moving average price of $56.44 and a two-hundred day moving average price of $78.91.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were paid a $0.4201 dividend. This represents a $1.68 annualized dividend and a yield of 2.20%. The ex-dividend date was Tuesday, March 25th.

Institutional Trading of Direxion Daily NVDA Bull 2X Shares

Several institutional investors and hedge funds have recently modified their holdings of the business. Headlands Technologies LLC purchased a new position in shares of Direxion Daily NVDA Bull 2X Shares in the 1st quarter worth about $75,000. SBI Securities Co. Ltd. boosted its stake in 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 buying an additional 22,096 shares in the last quarter. Narus Financial Partners LLC bought a new position in Direxion Daily NVDA Bull 2X Shares during the first quarter valued at approximately $246,000. New Millennium Group LLC purchased a new position in shares of Direxion Daily NVDA Bull 2X Shares during the first quarter worth approximately $171,000. Finally, Beacon Capital Management LLC purchased a new position in shares of Direxion Daily NVDA Bull 2X Shares during the first quarter worth approximately $128,000.

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.