Short Interest in Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Increases By 29.6%

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) saw a large increase in short interest in the month of December. As of December 15th, there was short interest totaling 782,238 shares, an increase of 29.6% from the November 30th total of 603,779 shares. Approximately 16.4% of the company’s stock are sold short. Based on an average daily trading volume, of 616,358 shares, the short-interest ratio is presently 1.3 days. Based on an average daily trading volume, of 616,358 shares, the short-interest ratio is presently 1.3 days. Approximately 16.4% of the company’s stock are sold short.

Direxion Daily NVDA Bull 2X Shares Stock Performance

NVDU stock opened at $117.72 on Friday. The stock’s 50 day simple moving average is $124.42 and its 200 day simple moving average is $118.99. Direxion Daily NVDA Bull 2X Shares has a fifty-two week low of $32.63 and a fifty-two week high of $165.77. The company has a market cap of $562.70 million, a P/E ratio of 42.98 and a beta of 4.20.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 23rd were given a dividend of $0.7196 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Tuesday, December 23rd.

Institutional Trading of Direxion Daily NVDA Bull 2X Shares

A number of hedge funds and other institutional investors have recently bought and sold shares of NVDU. Bogart Wealth LLC bought a new stake in Direxion Daily NVDA Bull 2X Shares in the 2nd quarter worth about $40,000. Halbert Hargrove Global Advisors LLC bought a new position in shares of Direxion Daily NVDA Bull 2X Shares during the 3rd quarter worth approximately $42,000. SOA Wealth Advisors LLC. purchased a new position in shares of Direxion Daily NVDA Bull 2X Shares in the 2nd quarter worth approximately $44,000. Western Pacific Wealth Management LP grew its holdings in shares of Direxion Daily NVDA Bull 2X Shares by 103.3% in the second quarter. Western Pacific Wealth Management LP now owns 1,000 shares of the company’s stock valued at $99,000 after acquiring an additional 508 shares in the last quarter. Finally, Group One Trading LLC bought a new position in shares of Direxion Daily NVDA Bull 2X Shares in the third quarter valued at approximately $175,000.

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.