Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Stock Price Up 9% – Still a Buy?

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU)’s stock price shot up 9% during trading on Monday . The company traded as high as $118.35 and last traded at $117.75. 550,676 shares were traded during mid-day trading, a decline of 30% from the average session volume of 788,063 shares. The stock had previously closed at $108.00.

Direxion Daily NVDA Bull 2X Shares Stock Performance

The business has a 50-day simple moving average of $113.81 and a 200-day simple moving average of $105.15.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.6505 dividend. The ex-dividend date of this dividend was Monday, December 23rd.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVDU. Barclays PLC boosted its holdings in Direxion Daily NVDA Bull 2X Shares by 45.0% in the third quarter. Barclays PLC now owns 1,450 shares of the company’s stock worth $136,000 after acquiring an additional 450 shares in the last quarter. Hollencrest Capital Management purchased a new position in shares of Direxion Daily NVDA Bull 2X Shares during the 2nd quarter valued at approximately $111,000. Captrust Financial Advisors acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the third quarter valued at about $374,000. Creative Planning purchased a new stake in Direxion Daily NVDA Bull 2X Shares during the 3rd quarter worth approximately $377,000. Finally, AE Wealth Management LLC acquired a new position in Direxion Daily NVDA Bull 2X Shares in the 2nd quarter valued at $533,000.

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.