Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Down 4% – Here’s What Happened

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) shares dropped 4% during trading on Monday . The company traded as low as $118.48 and last traded at $120.17. 58,269 shares were traded during trading, a decline of 88% from the average daily volume of 484,887 shares. The stock had previously closed at $125.22.

Direxion Daily NVDA Bull 2X Shares Stock Up 0.3%

The company has a market capitalization of $531.76 million, a P/E ratio of 42.98 and a beta of 3.79. The business has a 50 day simple moving average of $128.56 and a 200-day simple moving average of $121.15.

Direxion Daily NVDA Bull 2X Shares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were issued a $0.694 dividend. This represents a $2.78 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, June 23rd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NVDU. Jump Financial LLC bought a new position in Direxion Daily NVDA Bull 2X Shares in the 2nd quarter worth about $654,000. HRT Financial LP bought a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the second quarter valued at approximately $1,925,000. Captrust Financial Advisors boosted its position in shares of Direxion Daily NVDA Bull 2X Shares by 68.2% during the second quarter. Captrust Financial Advisors now owns 9,985 shares of the company’s stock worth $988,000 after buying an additional 4,050 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Direxion Daily NVDA Bull 2X Shares by 599.0% during the second quarter. Tower Research Capital LLC TRC now owns 12,868 shares of the company’s stock worth $1,274,000 after buying an additional 11,027 shares during the period. Finally, Group One Trading LLC bought a new position in Direxion Daily NVDA Bull 2X Shares in the 3rd quarter worth approximately $175,000.

Direxion Daily NVDA Bull 2X Shares Company Profile

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.