Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Trading 9.8% Higher – Here’s What Happened

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU)’s share price traded up 9.8% during trading on Monday . The stock traded as high as $150.19 and last traded at $150.19. 359,588 shares were traded during mid-day trading, a decline of 30% from the average session volume of 510,466 shares. The stock had previously closed at $136.80.

Direxion Daily NVDA Bull 2X Shares Stock Performance

The company has a 50 day moving average price of $126.34 and a 200 day moving average price of $119.13. The firm has a market cap of $676.50 million, a price-to-earnings ratio of 42.98 and a beta of 3.81.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were paid a $0.5254 dividend. This represents a $2.10 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, March 24th.

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

Several large investors have recently modified their holdings of NVDU. UBS Group AG lifted its stake in shares of Direxion Daily NVDA Bull 2X Shares by 120.0% in the 3rd quarter. UBS Group AG now owns 275,000 shares of the company’s stock valued at $36,061,000 after purchasing an additional 149,978 shares during the last quarter. IMC Chicago LLC acquired a new position in Direxion Daily NVDA Bull 2X Shares during the 4th quarter worth about $5,211,000. HRT Financial LP acquired a new position in Direxion Daily NVDA Bull 2X Shares during the 2nd quarter worth about $1,925,000. Virtu Financial LLC lifted its stake in Direxion Daily NVDA Bull 2X Shares by 600.0% during the 4th quarter. Virtu Financial LLC now owns 19,859 shares of the company’s stock worth $2,338,000 after acquiring an additional 17,022 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Direxion Daily NVDA Bull 2X Shares by 115.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 27,706 shares of the company’s stock worth $3,633,000 after acquiring an additional 14,838 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.