Short Interest in Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Expands By 18.9%

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU - Get Free Report) was the target of a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 1,020,000 shares, an increase of 18.9% from the April 30th total of 857,600 shares. Currently, 11.4% of the company's stock are short sold. Based on an average daily trading volume, of 1,483,900 shares, the short-interest ratio is currently 0.7 days.

Institutional Trading of Direxion Daily NVDA Bull 2X Shares

Hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. bought a new position in shares of Direxion Daily NVDA Bull 2X Shares during the fourth quarter valued at $4,593,000. Optiver Holding B.V. increased its holdings in Direxion Daily NVDA Bull 2X Shares by 2,158.3% in the fourth quarter. Optiver Holding B.V. now owns 42,389 shares of the company's stock valued at $3,967,000 after purchasing an additional 40,512 shares during the period. Jane Street Group LLC raised its position in Direxion Daily NVDA Bull 2X Shares by 54.8% during the 4th quarter. Jane Street Group LLC now owns 81,848 shares of the company's stock worth $7,660,000 after purchasing an additional 28,963 shares during the last quarter. NorthRock Partners LLC acquired a new position in Direxion Daily NVDA Bull 2X Shares during the 4th quarter worth about $1,517,000. Finally, Virtu Financial LLC bought a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the 4th quarter valued at about $1,155,000.

Direxion Daily NVDA Bull 2X Shares Trading Up 0.9%

NVDU stock traded up $0.71 during mid-day trading on Wednesday, hitting $81.40. 855,831 shares of the company were exchanged, compared to its average volume of 1,458,555. Direxion Daily NVDA Bull 2X Shares has a 1-year low of $32.63 and a 1-year high of $146.87. The stock has a market capitalization of $730.97 million, a PE ratio of 42.98 and a beta of 4.15. The business has a 50 day simple moving average of $57.88 and a 200-day simple moving average of $78.62.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th were issued a dividend of $0.4201 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Tuesday, March 25th.

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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