Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Short Interest Down 15.0% in March

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) saw a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 934,800 shares, a decrease of 15.0% from the March 15th total of 1,100,000 shares. Currently, 10.2% of the company’s shares are short sold. Based on an average trading volume of 1,598,500 shares, the days-to-cover ratio is presently 0.6 days.

Direxion Daily NVDA Bull 2X Shares Price Performance

NVDU opened at $43.12 on Monday. The stock’s 50 day simple moving average is $62.30 and its 200 day simple moving average is $91.35. The firm has a market cap of $379.46 million, a price-to-earnings ratio of 28.79 and a beta of 4.15. Direxion Daily NVDA Bull 2X Shares has a 1 year low of $32.63 and a 1 year high of $146.87.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th were issued a $0.4201 dividend. This represents a $1.68 annualized dividend and a dividend yield of 3.90%. The ex-dividend date was Tuesday, March 25th.

Institutional Investors Weigh In On Direxion Daily NVDA Bull 2X Shares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Western Pacific Wealth Management LP purchased a new position in shares of Direxion Daily NVDA Bull 2X Shares in the first quarter valued at about $26,000. Snowden Capital Advisors LLC grew its stake in shares of Direxion Daily NVDA Bull 2X Shares by 30.4% in the fourth quarter. Snowden Capital Advisors LLC now owns 5,836 shares of the company’s stock worth $546,000 after purchasing an additional 1,361 shares during the last quarter. NorthRock Partners LLC purchased a new position in Direxion Daily NVDA Bull 2X Shares during the 4th quarter valued at about $1,517,000. Captrust Financial Advisors raised its position in Direxion Daily NVDA Bull 2X Shares by 45.8% during the 4th quarter. Captrust Financial Advisors now owns 5,830 shares of the company’s stock valued at $546,000 after purchasing an additional 1,830 shares during the last quarter. Finally, Jane Street Group LLC grew its position in shares of Direxion Daily NVDA Bull 2X Shares by 54.8% in the 4th quarter. Jane Street Group LLC now owns 81,848 shares of the company’s stock worth $7,660,000 after buying an additional 28,963 shares during the last quarter.

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.