Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Short Interest Up 136.7% in July

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 440,655 shares, a growth of 136.7% from the July 15th total of 186,137 shares. Approximately 9.6% of the shares of the company are short sold. Based on an average daily trading volume, of 331,698 shares, the days-to-cover ratio is currently 1.3 days.

Direxion Daily NVDA Bull 2X Shares Stock Performance

Shares of NVDU stock traded down $0.26 during mid-day trading on Friday, reaching $146.22. The company’s stock had a trading volume of 195,810 shares, compared to its average volume of 471,732. The firm’s 50-day moving average is $125.28 and its two-hundred day moving average is $122.53. The company has a market cap of $668.23 million, a P/E ratio of 42.98 and a beta of 3.80. Direxion Daily NVDA Bull 2X Shares has a 1-year low of $86.02 and a 1-year high of $172.89.

Direxion Daily NVDA Bull 2X Shares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were paid a $0.694 dividend. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $2.78 dividend on an annualized basis and a yield of 1.9%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVDU. PayPay Securities Corp boosted its holdings in Direxion Daily NVDA Bull 2X Shares by 52.5% during 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 in the last quarter. Tucker Asset Management LLC acquired a new position in shares of Direxion Daily NVDA Bull 2X Shares in the 4th quarter worth approximately $69,000. Group One Trading LLC acquired a new position in shares of Direxion Daily NVDA Bull 2X Shares in the 3rd quarter worth approximately $175,000. TRUE Private Wealth Advisors bought a new position in shares of Direxion Daily NVDA Bull 2X Shares during the 3rd quarter worth approximately $204,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of Direxion Daily NVDA Bull 2X Shares during the 3rd quarter worth approximately $262,000.

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.