Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Trading Down 9.2% - Here's What Happened

Key Points

• NVDU shares fell 9.2% on Friday to $133.93 from a previous close of $147.58, while trading volume rose 29% above its average.
• The leveraged ETF recently paid a quarterly dividend of $0.694 per share, equivalent to an annualized dividend of $2.78 and a 2.1% yield.
• NVDU provides 2x daily leveraged exposure to NVIDIA’s stock; several hedge funds recently initiated or increased positions, including Virtu Financial, which boosted its holdings by 600%.

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU - )'s share price were down 9.2% on Friday . The stock traded as low as $133.93 and last traded at $133.93. Approximately 605,130 shares changed hands during mid-day trading, an increase of 29% from the average daily volume of 467,905 shares. The stock had previously closed at $147.58.

Direxion Daily NVDA Bull 2X Shares Price Performance

The stock has a 50 day simple moving average of $126.71 and a 200-day simple moving average of $124.11. The firm has a market cap of $612.70 million, a PE ratio of 42.98 and a beta of 3.80.

Direxion Daily NVDA Bull 2X Shares Announces Dividend

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

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

A number of hedge funds have recently bought and sold shares of NVDU. IMC Chicago LLC purchased a new stake in Direxion Daily NVDA Bull 2X Shares during the 4th quarter valued at about $5,211,000. Virtu Financial LLC raised its holdings in Direxion Daily NVDA Bull 2X Shares by 600.0% in 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 during the last quarter. Captrust Financial Advisors raised its holdings in Direxion Daily NVDA Bull 2X Shares by 68.2% in the second quarter. Captrust Financial Advisors now owns 9,985 shares of the company's stock worth $988,000 after buying an additional 4,050 shares during the last quarter. HRT Financial LP bought a new position in shares of Direxion Daily NVDA Bull 2X Shares in the second quarter worth approximately $1,925,000. Finally, Jump Financial LLC lifted its stake in shares of Direxion Daily NVDA Bull 2X Shares by 206.1% in the third quarter. Jump Financial LLC now owns 20,221 shares of the company's stock worth $2,652,000 after buying an additional 13,614 shares in the last quarter.

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.

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