Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Trading 6.6% Higher - Here's Why

Key Points

• Direxion Daily NVDA Bull 2X Shares (NVDU) rose 6.6% on Wednesday, trading as high as $134.45 after closing the previous session at $126.01.
• The ETF saw about 241,111 shares traded, which was well below its average daily volume of 490,134 shares.
• NVDU is a 2x leveraged ETF tied to NVIDIA’s daily share price movement, and it recently paid a quarterly dividend of $0.694 per share, or $2.78 annualized for a 2.1% yield.

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU - )'s share price shot up 6.6% on Wednesday . The stock traded as high as $134.45 and last traded at $134.33. Approximately 241,111 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 490,134 shares. The stock had previously closed at $126.01.

Direxion Daily NVDA Bull 2X Shares Stock Performance

The stock's fifty day simple moving average is $132.12 and its 200-day simple moving average is $121.06. The stock has a market cap of $645.94 million, a P/E ratio of 42.98 and a beta of 3.79.

Direxion Daily NVDA Bull 2X Shares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were issued a $0.694 dividend. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $2.78 annualized dividend and a yield of 2.1%.

Institutional Trading of Direxion Daily NVDA Bull 2X Shares

Large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its stake in Direxion Daily NVDA Bull 2X Shares by 29.8% in the first quarter. PNC Financial Services Group Inc. now owns 5,471 shares of the company's stock valued at $527,000 after purchasing an additional 1,255 shares in the last quarter. Virtu Financial LLC grew its stake in Direxion Daily NVDA Bull 2X Shares by 600.0% during the fourth quarter. Virtu Financial LLC now owns 19,859 shares of the company's stock worth $2,338,000 after buying an additional 17,022 shares in the last quarter. Beacon Capital Management LLC bought a new position in Direxion Daily NVDA Bull 2X Shares in the 4th quarter valued at about $404,000. Ausdal Financial Partners Inc. increased its holdings in Direxion Daily NVDA Bull 2X Shares by 20.3% in the 4th quarter. Ausdal Financial Partners Inc. now owns 4,328 shares of the company's stock valued at $509,000 after buying an additional 729 shares during the period. Finally, StoneX Group Inc. acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the 4th quarter valued at $264,000.

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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