Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Up 5.6% – Should You Buy?

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) shot up 5.6% during mid-day trading on Tuesday . The company traded as high as $132.17 and last traded at $131.82. Approximately 70,931 shares traded hands during trading, a decline of 85% from the average session volume of 460,663 shares. The stock had previously closed at $124.78.

Direxion Daily NVDA Bull 2X Shares Price Performance

The firm has a fifty day moving average of $126.42 and a 200 day moving average of $123.87. The stock has a market capitalization of $577.97 million, a price-to-earnings ratio of 42.98 and a beta of 3.80.

Direxion Daily NVDA Bull 2X Shares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were paid a dividend of $0.694 per share. This represents a $2.78 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, June 23rd.

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

A number of large investors have recently added to or reduced their stakes in NVDU. UBS Group AG boosted its holdings 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 worth $36,061,000 after buying an additional 149,978 shares during the last quarter. IMC Chicago LLC acquired a new position in shares of Direxion Daily NVDA Bull 2X Shares during the fourth quarter valued at approximately $5,211,000. HRT Financial LP acquired a new position in shares of Direxion Daily NVDA Bull 2X Shares during the second quarter valued at approximately $1,925,000. Virtu Financial LLC lifted its position in shares of Direxion Daily NVDA Bull 2X Shares by 600.0% in the fourth quarter. Virtu Financial LLC now owns 19,859 shares of the company’s stock valued at $2,338,000 after acquiring an additional 17,022 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position 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 acquiring an additional 14,838 shares in the last quarter.

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.