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

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) was the recipient of a large decrease in short interest in the month of May. As of May 29th, there was short interest totaling 221,402 shares, a decrease of 41.5% from the May 14th total of 378,732 shares. Based on an average daily volume of 653,345 shares, the short-interest ratio is currently 0.3 days. Approximately 5.0% of the shares of the company are short sold.

Institutional Trading of Direxion Daily NVDA Bull 2X Shares

Hedge funds have recently bought and sold shares of the stock. IMC Chicago LLC bought a new stake in Direxion Daily NVDA Bull 2X Shares in the 4th quarter valued at $5,211,000. PayPay Securities Corp boosted its holdings in Direxion Daily NVDA Bull 2X Shares by 52.5% in the 4th quarter. PayPay Securities Corp now owns 334 shares of the company’s stock valued at $39,000 after purchasing an additional 115 shares during the period. Wealthcare Advisory Partners LLC boosted its holdings in Direxion Daily NVDA Bull 2X Shares by 4.6% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 4,200 shares of the company’s stock valued at $494,000 after purchasing an additional 185 shares during the period. Optiver Holding B.V. raised its stake in shares of Direxion Daily NVDA Bull 2X Shares by 23.8% in the 3rd quarter. Optiver Holding B.V. now owns 6,476 shares of the company’s stock valued at $849,000 after buying an additional 1,247 shares in the last quarter. Finally, Trajan Wealth LLC acquired a new position in shares of Direxion Daily NVDA Bull 2X Shares in the 3rd quarter valued at $263,000.

Direxion Daily NVDA Bull 2X Shares Stock Down 4.9%

Direxion Daily NVDA Bull 2X Shares stock traded down $6.72 during mid-day trading on Tuesday, reaching $129.64. The company had a trading volume of 317,798 shares, compared to its average volume of 516,124. Direxion Daily NVDA Bull 2X Shares has a 52 week low of $81.02 and a 52 week high of $172.89. The company has a 50 day moving average of $134.61 and a 200-day moving average of $119.98. The firm has a market cap of $570.42 million, a price-to-earnings ratio of 42.98 and a beta of 3.73.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were issued a $0.5254 dividend. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $2.10 dividend on an annualized basis and a yield of 1.6%.

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.