Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Stock Price Up 7.9% – Here’s What Happened

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU)’s share price shot up 7.9% during trading on Tuesday . The company traded as high as $131.63 and last traded at $131.63. 272,355 shares changed hands during trading, a decline of 45% from the average daily volume of 494,394 shares. The stock had previously closed at $122.03.

Direxion Daily NVDA Bull 2X Shares Stock Up 7.2%

The firm has a 50-day moving average price of $133.68 and a two-hundred day moving average price of $120.79. The firm has a market cap of $638.21 million, a PE ratio of 42.98 and a beta of 3.79.

Direxion Daily NVDA Bull 2X Shares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were paid a $0.694 dividend. This represents a $2.78 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, June 23rd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UBS Group AG boosted its stake in Direxion Daily NVDA Bull 2X Shares by 120.0% during the 3rd quarter. UBS Group AG now owns 275,000 shares of the company’s stock worth $36,061,000 after purchasing an additional 149,978 shares during the last quarter. IMC Chicago LLC acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the fourth quarter valued at about $5,211,000. SBI Securities Co. Ltd. lifted its stake in shares of Direxion Daily NVDA Bull 2X Shares by 0.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 38,293 shares of the company’s stock worth $4,508,000 after buying an additional 351 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake 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 worth $3,633,000 after buying an additional 14,838 shares in the last quarter. Finally, Jump Financial LLC lifted its stake in shares of Direxion Daily NVDA Bull 2X Shares by 206.1% in 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 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.