Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Trading Down 9.2% – Here’s What Happened

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) fell 9.2% on Friday . The company traded as low as $133.93 and last traded at $133.93. 605,130 shares traded hands during mid-day trading, an increase of 29% from the average session volume of 467,905 shares. The stock had previously closed at $147.58.

Direxion Daily NVDA Bull 2X Shares Stock Performance

The firm has a 50-day moving average of $126.71 and a 200-day moving average of $124.11. The firm has a market capitalization of $612.70 million, a P/E ratio of 42.98 and a beta of 3.80.

Direxion Daily NVDA Bull 2X Shares Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NVDU. UBS Group AG boosted its position in shares of Direxion Daily NVDA Bull 2X Shares by 120.0% during the third quarter. UBS Group AG now owns 275,000 shares of the company’s stock valued at $36,061,000 after buying an additional 149,978 shares during the last quarter. IMC Chicago LLC purchased a new position in Direxion Daily NVDA Bull 2X Shares in the 4th quarter worth about $5,211,000. HRT Financial LP purchased a new position in Direxion Daily NVDA Bull 2X Shares in the 2nd quarter worth about $1,925,000. Virtu Financial LLC lifted its stake in Direxion Daily NVDA Bull 2X Shares by 600.0% during the 4th 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 during the period. Finally, Tower Research Capital LLC TRC lifted its stake in Direxion Daily NVDA Bull 2X Shares by 115.3% during the 3rd 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 during the period.

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.