Short Interest in Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Grows By 92.4%

Key Points

• Short interest in Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) surged by 92.4% in August, rising to 323,700 shares.
• Multiple institutional investors increased their stakes in the fund, with Captrust Financial Advisors raising its investment by 45.8%.
• The company recently announced a quarterly dividend increase to $0.6067 per share, reflecting an annual yield of 2.0%.

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU - ) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 323,700 shares, a growth of 92.4% from the August 15th total of 168,200 shares. Based on an average daily volume of 715,600 shares, the days-to-cover ratio is currently 0.5 days. Currently, 5.8% of the company's stock are short sold. Currently, 5.8% of the company's stock are short sold. Based on an average daily volume of 715,600 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Investors Weigh In On Direxion Daily NVDA Bull 2X Shares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors raised its stake in Direxion Daily NVDA Bull 2X Shares by 45.8% during the 4th quarter. Captrust Financial Advisors now owns 5,830 shares of the company's stock valued at $546,000 after buying an additional 1,830 shares during the last quarter. Snowden Capital Advisors LLC grew its position in Direxion Daily NVDA Bull 2X Shares by 30.4% during the fourth quarter. Snowden Capital Advisors LLC now owns 5,836 shares of the company's stock valued at $546,000 after buying an additional 1,361 shares during the period. Western Pacific Wealth Management LP purchased a new position in shares of Direxion Daily NVDA Bull 2X Shares during the 1st quarter worth $26,000. Beacon Capital Management LLC purchased a new position in Direxion Daily NVDA Bull 2X Shares during the first quarter valued at $128,000. Finally, New Millennium Group LLC bought a new position in shares of Direxion Daily NVDA Bull 2X Shares in the first quarter worth about $171,000.

Direxion Daily NVDA Bull 2X Shares Trading Up 1.0%

NASDAQ:NVDU traded up $1.14 during mid-day trading on Friday, reaching $120.88. The company's stock had a trading volume of 337,611 shares, compared to its average volume of 1,164,128. The stock has a market cap of $676.93 million, a P/E ratio of 42.98 and a beta of 4.15. The firm's fifty day moving average price is $118.57 and its two-hundred day moving average price is $84.13. Direxion Daily NVDA Bull 2X Shares has a 12-month low of $32.63 and a 12-month high of $142.52.

Direxion Daily NVDA Bull 2X Shares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 24th were given a dividend of $0.6067 per share. This represents a $2.43 dividend on an annualized basis 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 was Tuesday, June 24th.

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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