Short Interest in Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Decreases By 41.5%
by Sarita Garza · The Markets DailyDirexion Daily NVDA Bull 2X Shares (NASDAQ:NVDU – Get Free Report) saw a significant decline in short interest in May. As of May 29th, there was short interest totaling 221,402 shares, a decline of 41.5% from the May 14th total of 378,732 shares. Approximately 5.0% of the shares of the stock are short sold. Based on an average trading volume of 653,345 shares, the short-interest ratio is currently 0.3 days.
Institutional Investors Weigh In On Direxion Daily NVDA Bull 2X Shares
Several hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its position in Direxion Daily NVDA Bull 2X Shares by 29.8% during the first quarter. PNC Financial Services Group Inc. now owns 5,471 shares of the company’s stock valued at $527,000 after purchasing an additional 1,255 shares during the last quarter. Virtu Financial LLC lifted its position in Direxion Daily NVDA Bull 2X Shares by 600.0% during the fourth quarter. Virtu Financial LLC now owns 19,859 shares of the company’s stock valued at $2,338,000 after purchasing an additional 17,022 shares during the last quarter. Beacon Capital Management LLC bought a new stake in Direxion Daily NVDA Bull 2X Shares during the fourth quarter valued at approximately $404,000. Ausdal Financial Partners Inc. lifted its position in Direxion Daily NVDA Bull 2X Shares by 20.3% during the fourth quarter. Ausdal Financial Partners Inc. now owns 4,328 shares of the company’s stock valued at $509,000 after purchasing an additional 729 shares during the last quarter. Finally, StoneX Group Inc. bought a new stake in Direxion Daily NVDA Bull 2X Shares during the fourth quarter valued at approximately $264,000.
Direxion Daily NVDA Bull 2X Shares Stock Up 7.1%
NASDAQ:NVDU traded up $9.01 during mid-day trading on Monday, hitting $136.36. 440,007 shares of the stock traded hands, compared to its average volume of 517,862. The business’s 50-day moving average price is $134.01 and its 200 day moving average price is $119.89. The company has a market cap of $599.98 million, a PE ratio of 42.98 and a beta of 3.73. Direxion Daily NVDA Bull 2X Shares has a 12-month low of $81.02 and a 12-month high of $172.89.
Direxion Daily NVDA Bull 2X Shares Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were paid a dividend of $0.5254 per share. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $2.10 annualized dividend and a yield of 1.5%.
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.