Direxion Daily NVDA Bull 2X ETF (NASDAQ:NVDU) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Direxion Daily NVDA Bull 2X ETF (NASDAQ:NVDU)’s share price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $126.38 and traded as high as $130.51. Direxion Daily NVDA Bull 2X ETF shares last traded at $128.59, with a volume of 169,300 shares changing hands.

Direxion Daily NVDA Bull 2X ETF Stock Performance

The stock’s 50-day moving average is $138.57 and its 200 day moving average is $126.54. The stock has a market capitalization of $457.52 million, a PE ratio of 42.98 and a beta of 3.79.

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

Hedge funds have recently made changes to their positions in the company. Simplicity Wealth LLC purchased a new stake in shares of Direxion Daily NVDA Bull 2X ETF in the 3rd quarter valued at about $224,000. Genesee Capital Advisors LLC boosted its position in shares of Direxion Daily NVDA Bull 2X ETF by 18.5% in the 3rd quarter. Genesee Capital Advisors LLC now owns 3,460 shares of the company’s stock valued at $504,000 after purchasing an additional 540 shares during the period. Tucker Asset Management LLC purchased a new position in Direxion Daily NVDA Bull 2X ETF during the 2nd quarter worth approximately $70,000. Beacon Capital Management LLC grew its stake in Direxion Daily NVDA Bull 2X ETF by 3.7% during the 2nd quarter. Beacon Capital Management LLC now owns 3,293 shares of the company’s stock worth $390,000 after buying an additional 117 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in Direxion Daily NVDA Bull 2X ETF by 29.8% during the 1st 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 during the last quarter.

Direxion Daily NVDA Bull 2X ETF 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.