Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Gap Up – Still a Buy?

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $126.47, but opened at $141.91. Direxion Daily NVDA Bull 2X Shares shares last traded at $143.79, with a volume of 536,257 shares.

Direxion Daily NVDA Bull 2X Shares Stock Performance

The firm has a market capitalization of $614.07 million, a P/E ratio of 42.98 and a beta of 3.80. The business has a 50 day simple moving average of $126.73 and a two-hundred day simple moving average of $124.19.

Direxion Daily NVDA Bull 2X Shares Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NVDU. Tucker Asset Management LLC bought a new stake in Direxion Daily NVDA Bull 2X Shares during the second quarter valued at approximately $70,000. Beacon Capital Management LLC increased its holdings in shares of Direxion Daily NVDA Bull 2X Shares by 3.7% in the 2nd quarter. Beacon Capital Management LLC now owns 3,293 shares of the company’s stock worth $390,000 after buying an additional 117 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Direxion Daily NVDA Bull 2X Shares by 29.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,471 shares of the company’s stock worth $527,000 after buying an additional 1,255 shares during the last quarter. Virtu Financial LLC raised its position in shares of 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 buying an additional 17,022 shares in the last quarter. Finally, Ausdal Financial Partners Inc. lifted its holdings in shares of Direxion Daily NVDA Bull 2X Shares by 20.3% during the 4th quarter. Ausdal Financial Partners Inc. now owns 4,328 shares of the company’s stock worth $509,000 after acquiring an additional 729 shares during the last quarter.

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.