Short Interest in Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Expands By 136.7%

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) was the recipient of a large growth in short interest in July. As of July 31st, there was short interest totaling 440,655 shares, a growth of 136.7% from the July 15th total of 186,137 shares. Based on an average daily trading volume, of 331,698 shares, the days-to-cover ratio is presently 1.3 days. Approximately 9.6% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in shares of Direxion Daily NVDA Bull 2X Shares by 29.8% during the first quarter. PNC Financial Services Group Inc. now owns 5,471 shares of the company’s stock worth $527,000 after buying an additional 1,255 shares in the last quarter. Virtu Financial LLC boosted its position in Direxion Daily NVDA Bull 2X Shares by 600.0% during the fourth quarter. Virtu Financial LLC now owns 19,859 shares of the company’s stock worth $2,338,000 after acquiring an additional 17,022 shares during the last quarter. Beacon Capital Management LLC purchased a new stake in Direxion Daily NVDA Bull 2X Shares during the 4th quarter valued at about $404,000. Ausdal Financial Partners Inc. grew its stake in Direxion Daily NVDA Bull 2X Shares by 20.3% during the 4th quarter. Ausdal Financial Partners Inc. now owns 4,328 shares of the company’s stock valued at $509,000 after acquiring an additional 729 shares in the last quarter. Finally, StoneX Group Inc. acquired a new stake in Direxion Daily NVDA Bull 2X Shares in the 4th quarter valued at about $264,000.

Direxion Daily NVDA Bull 2X Shares Stock Down 0.2%

Shares of Direxion Daily NVDA Bull 2X Shares stock traded down $0.26 during mid-day trading on Friday, reaching $146.22. 195,810 shares of the stock traded hands, compared to its average volume of 471,732. The business has a 50-day moving average of $125.64 and a 200 day moving average of $122.70. Direxion Daily NVDA Bull 2X Shares has a fifty-two week low of $86.02 and a fifty-two week high of $172.89. The stock has a market capitalization of $668.23 million, a PE ratio of 42.98 and a beta of 3.80.

Direxion Daily NVDA Bull 2X Shares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were given a dividend of $0.694 per share. This represents a $2.78 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Tuesday, June 23rd.

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.