Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Stock Price Down 5.6% – Here’s What Happened

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) shares were down 5.6% during mid-day trading on Friday . The stock traded as low as $74.22 and last traded at $74.22. Approximately 699,211 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 1,464,500 shares. The stock had previously closed at $78.63.

Direxion Daily NVDA Bull 2X Shares Stock Down 7.1%

The company has a 50 day simple moving average of $56.44 and a 200-day simple moving average of $79.29. The stock has a market capitalization of $655.90 million, a price-to-earnings ratio of 42.98 and a beta of 4.15.

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 given a dividend of $0.4201 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Tuesday, March 25th.

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

A number of large investors have recently modified their holdings of NVDU. Western Pacific Wealth Management LP bought a new stake in Direxion Daily NVDA Bull 2X Shares during the 1st quarter valued at $26,000. JPMorgan Chase & Co. acquired a new position in shares of Direxion Daily NVDA Bull 2X Shares during the fourth quarter valued at about $37,000. PayPay Securities Corp acquired a new position in shares of Direxion Daily NVDA Bull 2X Shares during the fourth quarter valued at about $47,000. Tucker Asset Management LLC bought a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the fourth quarter worth about $51,000. Finally, Headlands Technologies LLC acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the 1st quarter worth about $75,000.

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.