Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Stock Price Down 0.1% - What's Next?

Key Points

• Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) experienced a modest decline of 0.1% during mid-day trading, with the stock last trading at $120.81 after reaching a low of $116.46.
• The company announced an increase in its quarterly dividend to $0.6067, up from the previous $0.42, resulting in an annualized dividend of $2.43 and a yield of 2.0%.
• Multiple hedge funds have recently acquired new stakes in Direxion Daily NVDA Bull 2X Shares, indicating growing interest in the fund since its launch on September 13, 2023.

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU - Get Free Report)'s share price were down 0.1% during trading on Monday . The company traded as low as $116.46 and last traded at $120.81. Approximately 543,856 shares changed hands during trading, a decline of 53% from the average daily volume of 1,160,590 shares. The stock had previously closed at $120.88.

Direxion Daily NVDA Bull 2X Shares Trading Up 0.3%

The business has a fifty day moving average of $119.88 and a 200 day moving average of $85.78. The company has a market capitalization of $663.77 million, a PE ratio of 42.98 and a beta of 4.15.

Direxion Daily NVDA Bull 2X Shares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 24th were given a dividend of $0.6067 per share. This represents a $2.43 annualized dividend and a yield of 2.0%. This is a positive change from Direxion Daily NVDA Bull 2X Shares's previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Tuesday, June 24th.

Institutional Trading of Direxion Daily NVDA Bull 2X Shares

A number of institutional investors have recently modified their holdings of the business. Western Pacific Wealth Management LP purchased a new stake in Direxion Daily NVDA Bull 2X Shares during the first quarter valued at about $26,000. Bogart Wealth LLC acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the second quarter worth $40,000. SOA Wealth Advisors LLC. acquired a new stake in Direxion Daily NVDA Bull 2X Shares during the second quarter valued at $44,000. Headlands Technologies LLC acquired a new stake in Direxion Daily NVDA Bull 2X Shares during the first quarter valued at $75,000. Finally, Beacon Capital Management LLC acquired a new stake in Direxion Daily NVDA Bull 2X Shares during the first quarter valued at $128,000.

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.