Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Up 7.9% – Time to Buy?

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU)’s share price were up 7.9% during trading on Tuesday . The company traded as high as $131.63 and last traded at $131.63. Approximately 272,355 shares were traded during mid-day trading, a decline of 45% from the average session volume of 494,394 shares. The stock had previously closed at $122.03.

Direxion Daily NVDA Bull 2X Shares Stock Performance

The firm has a market capitalization of $638.21 million, a price-to-earnings ratio of 42.98 and a beta of 3.79. The company has a 50 day moving average price of $133.68 and a two-hundred day moving average price of $120.79.

Direxion Daily NVDA Bull 2X Shares Announces Dividend

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

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PayPay Securities Corp grew its position in shares of Direxion Daily NVDA Bull 2X Shares by 52.5% in the fourth quarter. PayPay Securities Corp now owns 334 shares of the company’s stock valued at $39,000 after purchasing an additional 115 shares during the period. Tucker Asset Management LLC acquired a new position in shares of Direxion Daily NVDA Bull 2X Shares during the 4th quarter worth about $69,000. Group One Trading LLC purchased a new position in Direxion Daily NVDA Bull 2X Shares in the 3rd quarter valued at about $175,000. TRUE Private Wealth Advisors purchased a new position in Direxion Daily NVDA Bull 2X Shares in the 3rd quarter valued at about $204,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in Direxion Daily NVDA Bull 2X Shares in the 3rd quarter valued at about $262,000.

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.