Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Gap Down – Here’s What Happened

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $122.64, but opened at $118.00. Direxion Daily NVDA Bull 2X Shares shares last traded at $116.90, with a volume of 174,773 shares changing hands.

Direxion Daily NVDA Bull 2X Shares Trading Down 6.3%

The firm has a market capitalization of $549.22 million, a price-to-earnings ratio of 42.98 and a beta of 4.20. The stock’s 50-day moving average is $128.89 and its 200-day moving average is $115.31.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd were given a $0.4973 dividend. The ex-dividend date was Tuesday, September 23rd. This represents a $1.99 annualized dividend and a yield of 1.7%.

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

Hedge funds have recently added to or reduced their stakes in the business. Halbert Hargrove Global Advisors LLC bought a new stake in Direxion Daily NVDA Bull 2X Shares during the 3rd quarter worth approximately $42,000. Bogart Wealth LLC bought a new position in Direxion Daily NVDA Bull 2X Shares during the 2nd quarter worth $40,000. SOA Wealth Advisors LLC. acquired a new position in Direxion Daily NVDA Bull 2X Shares during the 2nd quarter worth about $44,000. Western Pacific Wealth Management LP increased its stake in shares of Direxion Daily NVDA Bull 2X Shares by 103.3% in the second 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. Finally, Group One Trading LLC bought a new position in shares of Direxion Daily NVDA Bull 2X Shares during the third quarter worth about $175,000.

Direxion Daily NVDA Bull 2X Shares Company Profile

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.