Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Trading Up 5.6% – Still a Buy?

by · The Markets Daily

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

Direxion Daily NVDA Bull 2X Shares Stock Performance

The stock’s fifty day moving average price is $126.41 and its 200-day moving average price is $123.47. The company has a market capitalization of $584.41 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 announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors 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 dividend on an annualized basis and a dividend yield of 2.2%.

Institutional Investors Weigh In On Direxion Daily NVDA Bull 2X Shares

Several hedge funds have recently added to or reduced their stakes in NVDU. Tucker Asset Management LLC bought a new position in Direxion Daily NVDA Bull 2X Shares during the fourth quarter worth $69,000. Group One Trading LLC bought a new position in shares of Direxion Daily NVDA Bull 2X Shares in the third quarter valued at about $175,000. TRUE Private Wealth Advisors bought a new position in shares of Direxion Daily NVDA Bull 2X Shares in the third quarter valued at about $204,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the 3rd quarter worth about $262,000. Finally, StoneX Group Inc. acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the 4th quarter worth about $264,000.

Direxion Daily NVDA Bull 2X Shares Company Profile

(Get Free Report)

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.

Featured Stories