Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Trading 7.3% Higher – What’s Next?

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU)’s share price rose 7.3% during trading on Wednesday . The stock traded as high as $128.17 and last traded at $127.95. Approximately 537,096 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 668,735 shares. The stock had previously closed at $119.30.

Direxion Daily NVDA Bull 2X Shares Trading Down 3.8 %

The firm has a fifty day simple moving average of $117.82 and a two-hundred day simple moving average of $105.42.

Direxion Daily NVDA Bull 2X Shares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 24th were issued a dividend of $0.4973 per share. This represents a $1.99 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend was Tuesday, September 24th. This is a positive change from Direxion Daily NVDA Bull 2X Shares’s previous quarterly dividend of $0.48.

Hedge Funds 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 business. Hollencrest Capital Management bought a new stake in Direxion Daily NVDA Bull 2X Shares during the second quarter valued at approximately $111,000. Barclays PLC grew its stake in shares of 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 valued at $136,000 after buying an additional 450 shares during the last quarter. SeaCrest Wealth Management LLC bought a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the 2nd quarter valued at about $206,000. Captrust Financial Advisors bought a new position in Direxion Daily NVDA Bull 2X Shares during the 3rd quarter worth approximately $374,000. Finally, Creative Planning bought a new stake in Direxion Daily NVDA Bull 2X Shares in the third quarter valued at approximately $377,000.

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.