Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Down 6.2% – Time to Sell?

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU)’s share price were down 6.2% during trading on Wednesday . The company traded as low as $116.50 and last traded at $116.51. Approximately 74,604 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 645,519 shares. The stock had previously closed at $124.25.

Direxion Daily NVDA Bull 2X Shares Price Performance

The business’s fifty day moving average price is $100.09 and its 200 day moving average price is $93.85.

Direxion Daily NVDA Bull 2X Shares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 24th were issued a $0.4973 dividend. This represents a $1.99 dividend on an annualized basis and a dividend yield of 1.64%. This is a boost from Direxion Daily NVDA Bull 2X Shares’s previous quarterly dividend of $0.48. The ex-dividend date was Tuesday, September 24th.

Hedge Funds Weigh In On Direxion Daily NVDA Bull 2X Shares

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC purchased a new position in Direxion Daily NVDA Bull 2X Shares in the 1st quarter valued at $2,517,000. Modera Wealth Management LLC purchased a new position in Direxion Daily NVDA Bull 2X Shares in the 2nd quarter valued at $556,000. AE Wealth Management LLC purchased a new position in Direxion Daily NVDA Bull 2X Shares in the 2nd quarter valued at $533,000. Creative Planning purchased a new position in Direxion Daily NVDA Bull 2X Shares in the 3rd quarter valued at $377,000. Finally, SeaCrest Wealth Management LLC purchased a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the 2nd quarter worth $206,000.

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.