Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Trading Down 10.1% – Here’s Why

Shares of Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) fell 10.1% during mid-day trading on Thursday . The company traded as low as $111.25 and last traded at $113.15. 590,131 shares were traded during mid-day trading, an increase of 25% from the average session volume of 473,600 shares. The stock had previously closed at $125.92.

Direxion Daily NVDA Bull 2X Shares Stock Performance

The company’s 50-day moving average price is $116.21 and its 200 day moving average price is $121.22. The stock has a market cap of $470.90 million, a PE ratio of 42.98 and a beta of 4.20.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 23rd were given a $0.7196 dividend. The ex-dividend date of this dividend was Tuesday, December 23rd. This represents a $2.88 dividend on an annualized basis and a yield of 2.8%.

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

Several large investors have recently added to or reduced their stakes in NVDU. PayPay Securities Corp boosted its stake in shares of Direxion Daily NVDA Bull 2X Shares by 52.5% in the 4th quarter. PayPay Securities Corp now owns 334 shares of the company’s stock valued at $39,000 after buying an additional 115 shares during the period. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Direxion Daily NVDA Bull 2X Shares during the third quarter worth about $42,000. Bogart Wealth LLC increased its holdings in shares of Direxion Daily NVDA Bull 2X Shares by 25.0% in the third quarter. Bogart Wealth LLC now owns 500 shares of the company’s stock valued at $66,000 after purchasing an additional 100 shares during the period. Tucker Asset Management LLC acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the 4th quarter worth $69,000. Finally, Group One Trading LLC acquired a new stake in Direxion Daily NVDA Bull 2X Shares in the third quarter valued at about $175,000.

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.