Short Interest in Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Declines By 50.0%

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) was the target of a significant drop in short interest in May. As of May 31st, there was short interest totalling 510,000 shares, a drop of 50.0% from the May 15th total of 1,020,000 shares. Based on an average daily trading volume, of 1,366,800 shares, the days-to-cover ratio is presently 0.4 days. Currently, 5.7% of the shares of the company are sold short.

Direxion Daily NVDA Bull 2X Shares Trading Up 3.8%

NVDU stock traded up $3.08 during midday trading on Monday, hitting $84.22. The stock had a trading volume of 914,675 shares, compared to its average volume of 1,419,250. Direxion Daily NVDA Bull 2X Shares has a 52 week low of $32.63 and a 52 week high of $146.87. The stock has a 50-day simple moving average of $62.81 and a 200 day simple moving average of $76.14. The firm has a market capitalization of $631.65 million, a price-to-earnings ratio of 42.98 and a beta of 4.15.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th were issued a dividend of $0.4201 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Tuesday, March 25th.

Institutional Trading of Direxion Daily NVDA Bull 2X Shares

Institutional investors have recently made changes to their positions in the business. SBI Securities Co. Ltd. acquired a new position in Direxion Daily NVDA Bull 2X Shares in the fourth quarter worth about $4,593,000. Optiver Holding B.V. grew its stake in shares of Direxion Daily NVDA Bull 2X Shares by 2,158.3% in the 4th quarter. Optiver Holding B.V. now owns 42,389 shares of the company’s stock valued at $3,967,000 after purchasing an additional 40,512 shares during the period. Jane Street Group LLC raised its holdings 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 in the last quarter. NorthRock Partners LLC bought a new position in shares of Direxion Daily NVDA Bull 2X Shares during the 4th quarter worth approximately $1,517,000. Finally, Virtu Financial LLC bought a new position in shares of Direxion Daily NVDA Bull 2X Shares during the 4th quarter worth approximately $1,155,000.

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.