Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Trading Up 7.5% – Still a Buy?

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU)’s stock price rose 7.5% during trading on Friday . The company traded as high as $134.95 and last traded at $134.63. Approximately 304,047 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 465,287 shares. The stock had previously closed at $125.28.

Direxion Daily NVDA Bull 2X Shares Stock Up 10.0%

The company has a market cap of $650.42 million, a P/E ratio of 42.98 and a beta of 4.13. The business’s 50 day moving average is $109.46 and its 200 day moving average is $117.58.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were given a dividend of $0.5254 per share. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.5%.

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

A number of large investors have recently made changes to their positions in the business. Bogart Wealth LLC increased its position in shares of Direxion Daily NVDA Bull 2X Shares by 25.0% during the third quarter. Bogart Wealth LLC now owns 500 shares of the company’s stock worth $66,000 after purchasing an additional 100 shares in the last quarter. PayPay Securities Corp boosted its stake in shares of Direxion Daily NVDA Bull 2X Shares by 52.5% during the 4th quarter. PayPay Securities Corp now owns 334 shares of the company’s stock worth $39,000 after acquiring an additional 115 shares in the last quarter. Traynor Capital Management Inc. boosted its stake in shares of Direxion Daily NVDA Bull 2X Shares by 3.1% during the 3rd quarter. Traynor Capital Management Inc. now owns 4,172 shares of the company’s stock worth $547,000 after acquiring an additional 125 shares in the last quarter. Creative Planning boosted its stake in shares of Direxion Daily NVDA Bull 2X Shares by 3.4% during the 3rd quarter. Creative Planning now owns 4,902 shares of the company’s stock worth $643,000 after acquiring an additional 163 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC boosted its stake in shares of Direxion Daily NVDA Bull 2X Shares by 4.6% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 4,200 shares of the company’s stock worth $494,000 after acquiring an additional 185 shares in the last quarter.

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.