Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Trading Down 0.1% - Time to Sell?

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 - ) fell 0.1% during mid-day trading on Monday . The company traded as low as $116.46 and last traded at $120.81. 543,856 shares were traded during trading, a decline of 53% from the average session volume of 1,160,590 shares. The stock had previously closed at $120.88.

Direxion Daily NVDA Bull 2X Shares Stock Down 0.1%

The firm has a market capitalization of $676.54 million, a PE ratio of 42.98 and a beta of 4.15. The firm's fifty day simple moving average is $119.00 and its 200-day simple moving average is $84.58.

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 $0.6067 dividend. The ex-dividend date was Tuesday, June 24th. This is an increase from Direxion Daily NVDA Bull 2X Shares's previous quarterly dividend of $0.42. This represents a $2.43 dividend on an annualized basis and a dividend yield of 2.0%.

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

Several hedge funds have recently modified their holdings of NVDU. Bogart Wealth LLC purchased a new stake in Direxion Daily NVDA Bull 2X Shares during the second quarter valued at $40,000. SOA Wealth Advisors LLC. purchased a new stake in Direxion Daily NVDA Bull 2X Shares during the second quarter valued at $44,000. Western Pacific Wealth Management LP purchased a new stake in Direxion Daily NVDA Bull 2X Shares during the first quarter valued at $26,000. Headlands Technologies LLC purchased a new stake in Direxion Daily NVDA Bull 2X Shares during the first quarter valued at $75,000. Finally, Chicago Partners Investment Group LLC purchased a new stake in Direxion Daily NVDA Bull 2X Shares during the second quarter valued at $181,000.

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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