Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Gap Up – Should You Buy?

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $126.30, but opened at $138.74. Direxion Daily NVDA Bull 2X Shares shares last traded at $136.23, with a volume of 510,151 shares.

Direxion Daily NVDA Bull 2X Shares Price Performance

The stock has a market capitalization of $649.55 million, a price-to-earnings ratio of 42.98 and a beta of 4.20. The business has a 50 day simple moving average of $129.59 and a 200-day simple moving average of $109.89.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd were paid a $0.4973 dividend. The ex-dividend date of this dividend was Tuesday, September 23rd. This represents a $1.99 dividend on an annualized basis and a yield of 1.5%.

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

Several large investors have recently made changes to their positions in NVDU. UBS Group AG lifted its position in 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 acquiring an additional 149,978 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Direxion Daily NVDA Bull 2X Shares by 115.3% in the third quarter. Tower Research Capital LLC TRC now owns 27,706 shares of the company’s stock valued at $3,633,000 after purchasing an additional 14,838 shares in the last quarter. Flow Traders U.S. LLC acquired a new position in shares of Direxion Daily NVDA Bull 2X Shares during the second quarter worth about $2,175,000. Jump Financial LLC boosted its position in shares of Direxion Daily NVDA Bull 2X Shares by 206.1% during the third quarter. Jump Financial LLC now owns 20,221 shares of the company’s stock worth $2,652,000 after buying an additional 13,614 shares during the period. Finally, HRT Financial LP bought a new position in shares of Direxion Daily NVDA Bull 2X Shares during the second quarter worth about $1,925,000.

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.