Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Sees Large Increase in Short Interest

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 244,400 shares, an increase of 66.6% from the September 30th total of 146,700 shares. Approximately 4.9% of the shares of the company are sold short. Based on an average trading volume of 626,100 shares, the short-interest ratio is presently 0.4 days. Based on an average trading volume of 626,100 shares, the short-interest ratio is presently 0.4 days. Approximately 4.9% of the shares of the company are sold short.

Direxion Daily NVDA Bull 2X Shares Trading Down 0.4%

Shares of NVDU opened at $151.16 on Monday. The firm has a market cap of $725.57 million, a PE ratio of 42.98 and a beta of 4.20. The company’s 50 day simple moving average is $125.05 and its 200-day simple moving average is $102.29. Direxion Daily NVDA Bull 2X Shares has a 12-month low of $32.63 and a 12-month high of $165.77.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd were given a dividend of $0.4973 per share. This represents a $1.99 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, September 23rd.

Institutional Trading of Direxion Daily NVDA Bull 2X Shares

A number of hedge funds have recently added to or reduced their stakes in NVDU. Bogart Wealth LLC acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the 2nd quarter valued at approximately $40,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the 3rd quarter valued at approximately $42,000. SOA Wealth Advisors LLC. acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the 2nd quarter valued at approximately $44,000. Headlands Technologies LLC acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the 1st quarter valued at approximately $75,000. Finally, Western Pacific Wealth Management LP lifted its holdings in shares of Direxion Daily NVDA Bull 2X Shares by 103.3% in the 2nd quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock valued at $99,000 after buying an additional 508 shares during the period.

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.