Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Down 5.8% – Here’s Why

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU)’s stock price traded down 5.8% during mid-day trading on Friday . The company traded as low as $123.90 and last traded at $123.90. 421,649 shares traded hands during trading, a decline of 37% from the average session volume of 666,714 shares. The stock had previously closed at $131.56.

Direxion Daily NVDA Bull 2X Shares Trading Down 6.3 %

The stock has a fifty day moving average of $112.17 and a 200-day moving average of $101.69.

Direxion Daily NVDA Bull 2X Shares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 24th were paid a $0.4973 dividend. This represents a $1.99 dividend on an annualized basis and a yield of 1.61%. This is an increase from Direxion Daily NVDA Bull 2X Shares’s previous quarterly dividend of $0.48. The ex-dividend date was Tuesday, September 24th.

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

A number of institutional investors and hedge funds have recently made changes to their positions in NVDU. Barclays PLC increased its holdings in Direxion Daily NVDA Bull 2X Shares by 45.0% during the third quarter. Barclays PLC now owns 1,450 shares of the company’s stock worth $136,000 after buying an additional 450 shares during the last quarter. Flow Traders U.S. LLC acquired a new position in shares of Direxion Daily NVDA Bull 2X Shares during the 3rd quarter worth about $2,165,000. Captrust Financial Advisors bought a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the 3rd quarter valued at about $374,000. Creative Planning acquired a new stake in Direxion Daily NVDA Bull 2X Shares in the 3rd quarter valued at about $377,000. Finally, AE Wealth Management LLC bought a new position in Direxion Daily NVDA Bull 2X Shares during the second quarter worth about $533,000.

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.