Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Stock Price Up 7.3% – Still a Buy?

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU)’s stock price were up 7.3% on Wednesday . The company traded as high as $128.17 and last traded at $127.95. Approximately 537,096 shares changed hands during 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 Up 6.9 %

The business has a 50-day moving average price of $116.62 and a two-hundred day moving average price of $105.11.

Direxion Daily NVDA Bull 2X Shares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 24th were given a dividend of $0.4973 per share. This represents a $1.99 dividend on an annualized basis and a dividend yield of 1.56%. 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.

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

Institutional investors have recently modified their holdings of the business. Hollencrest Capital Management acquired a new position in shares of Direxion Daily NVDA Bull 2X Shares during the 2nd quarter worth $111,000. Barclays PLC increased its holdings in Direxion Daily NVDA Bull 2X Shares by 45.0% in the 3rd quarter. Barclays PLC now owns 1,450 shares of the company’s stock worth $136,000 after purchasing an additional 450 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new position in Direxion Daily NVDA Bull 2X Shares in the 2nd quarter worth about $206,000. Captrust Financial Advisors acquired a new position in Direxion Daily NVDA Bull 2X Shares in the 3rd quarter worth about $374,000. Finally, Creative Planning acquired a new position in Direxion Daily NVDA Bull 2X Shares in the 3rd quarter worth about $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.