Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Up 4.5% - Still a Buy?

Shares of Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU - Get Free Report) were up 4.5% on Wednesday . The company traded as high as $91.80 and last traded at $91.06. Approximately 361,243 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 1,380,841 shares. The stock had previously closed at $87.14.

Direxion Daily NVDA Bull 2X Shares Price Performance

The stock has a fifty day moving average price of $69.52 and a two-hundred day moving average price of $74.64. The company has a market cap of $858.94 million, a P/E ratio of 42.98 and a beta of 4.15.

Direxion Daily NVDA Bull 2X Shares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 24th will be issued a $0.6067 dividend. This represents a $2.43 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date is Tuesday, June 24th. This is a positive change from Direxion Daily NVDA Bull 2X Shares's previous quarterly dividend of $0.42.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. bought a new position in shares of Direxion Daily NVDA Bull 2X Shares in the fourth quarter valued at approximately $4,593,000. Virtu Financial LLC bought a new position in shares of Direxion Daily NVDA Bull 2X Shares in the fourth quarter valued at approximately $1,155,000. Lake Street Advisors Group LLC bought a new position in shares of Direxion Daily NVDA Bull 2X Shares in the fourth quarter valued at approximately $411,000. Jane Street Group LLC increased its position in shares of Direxion Daily NVDA Bull 2X Shares by 54.8% during the fourth quarter. Jane Street Group LLC now owns 81,848 shares of the company's stock valued at $7,660,000 after acquiring an additional 28,963 shares during the last quarter. Finally, Captrust Financial Advisors increased its position in shares of Direxion Daily NVDA Bull 2X Shares by 45.8% during the fourth quarter. Captrust Financial Advisors now owns 5,830 shares of the company's stock valued at $546,000 after acquiring an additional 1,830 shares during the last quarter.

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.