Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Sees Significant Decrease in Short Interest

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) saw a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 122,695 shares, a drop of 84.3% from the December 15th total of 782,238 shares. Approximately 2.2% of the company’s stock are short sold. Based on an average daily trading volume, of 417,609 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily trading volume, of 417,609 shares, the days-to-cover ratio is presently 0.3 days. Approximately 2.2% of the company’s stock are short sold.

Direxion Daily NVDA Bull 2X Shares Stock Performance

NVDU traded down $3.12 on Wednesday, hitting $113.27. The company had a trading volume of 395,676 shares, compared to its average volume of 439,341. The stock has a market capitalization of $639.98 million, a price-to-earnings ratio of 42.98 and a beta of 4.20. The stock has a fifty day moving average price of $119.72 and a 200-day moving average price of $121.10. Direxion Daily NVDA Bull 2X Shares has a 12-month low of $32.63 and a 12-month high of $165.77.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 23rd were paid a $0.7196 dividend. The ex-dividend date was Tuesday, December 23rd. This represents a $2.88 dividend on an annualized basis and a yield of 2.5%.

Institutional Trading of Direxion Daily NVDA Bull 2X Shares

A number of institutional investors have recently bought and sold shares of the stock. UBS Group AG lifted its position in Direxion Daily NVDA Bull 2X Shares by 120.0% during the 3rd quarter. UBS Group AG now owns 275,000 shares of the company’s stock worth $36,061,000 after acquiring an additional 149,978 shares during the period. Tower Research Capital LLC TRC lifted its holdings in shares of Direxion Daily NVDA Bull 2X Shares by 115.3% during the third quarter. Tower Research Capital LLC TRC now owns 27,706 shares of the company’s stock worth $3,633,000 after purchasing an additional 14,838 shares during the period. Flow Traders U.S. LLC purchased a new stake in Direxion Daily NVDA Bull 2X Shares in the second quarter valued at approximately $2,175,000. Jump Financial LLC boosted its position in Direxion Daily NVDA Bull 2X Shares by 206.1% in the third quarter. Jump Financial LLC now owns 20,221 shares of the company’s stock valued at $2,652,000 after buying an additional 13,614 shares during the last quarter. Finally, HRT Financial LP acquired a new position in Direxion Daily NVDA Bull 2X Shares in the 2nd quarter worth approximately $1,925,000.

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.