Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Stock Price Down 6% – Here’s What Happened

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) traded down 6% during trading on Thursday . The company traded as low as $107.63 and last traded at $109.66. 354,155 shares traded hands during trading, a decline of 66% from the average session volume of 1,039,082 shares. The stock had previously closed at $116.65.

Direxion Daily NVDA Bull 2X Shares Trading Down 3.4%

The business has a 50 day simple moving average of $128.58 and a two-hundred day simple moving average of $115.32. The company has a market cap of $538.71 million, a PE ratio of 42.98 and a beta of 4.20.

Direxion Daily NVDA Bull 2X Shares Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 10th will be paid a dividend of $4.4389 per share. This is a boost from Direxion Daily NVDA Bull 2X Shares’s previous quarterly dividend of $0.50. This represents a $17.76 dividend on an annualized basis and a dividend yield of 15.8%. The ex-dividend date is Wednesday, December 10th.

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

Several hedge funds and other institutional investors have recently bought and sold shares of NVDU. Bogart Wealth LLC grew its position in Direxion Daily NVDA Bull 2X Shares by 25.0% in the third quarter. Bogart Wealth LLC now owns 500 shares of the company’s stock valued at $66,000 after acquiring an additional 100 shares in the last quarter. Traynor Capital Management Inc. boosted its stake in shares of Direxion Daily NVDA Bull 2X Shares by 3.1% in the third quarter. Traynor Capital Management Inc. now owns 4,172 shares of the company’s stock valued at $547,000 after purchasing an additional 125 shares during the period. Creative Planning boosted its stake in shares of Direxion Daily NVDA Bull 2X Shares by 3.4% in the third quarter. Creative Planning now owns 4,902 shares of the company’s stock valued at $643,000 after purchasing an additional 163 shares during the period. Halbert Hargrove Global Advisors LLC acquired a new stake in Direxion Daily NVDA Bull 2X Shares during the 3rd quarter valued at $42,000. Finally, SOA Wealth Advisors LLC. purchased a new stake in Direxion Daily NVDA Bull 2X Shares during the 2nd quarter worth $44,000.

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.