Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Gap Up – Time to Buy?

Shares of Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) gapped up before the market opened on Wednesday . The stock had previously closed at $114.04, but opened at $118.94. Direxion Daily NVDA Bull 2X Shares shares last traded at $117.20, with a volume of 346,098 shares.

Direxion Daily NVDA Bull 2X Shares Trading Up 3.1%

The company has a market cap of $561.84 million, a P/E ratio of 42.98 and a beta of 4.20. The business’s fifty day moving average is $129.39 and its 200 day moving average is $112.02.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd were paid a $0.4973 dividend. The ex-dividend date was Tuesday, September 23rd. This represents a $1.99 annualized dividend and a dividend yield of 1.7%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bogart Wealth LLC purchased 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 Direxion Daily NVDA Bull 2X Shares during the third quarter worth about $42,000. SOA Wealth Advisors LLC. purchased a new position in shares of Direxion Daily NVDA Bull 2X Shares in the second quarter worth about $44,000. Headlands Technologies LLC purchased a new position in shares of Direxion Daily NVDA Bull 2X Shares in the first quarter worth about $75,000. Finally, Western Pacific Wealth Management LP raised its position 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 purchasing an additional 508 shares during the period.

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.