Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Trading Down 5.4% – Should You Sell?

Shares of Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) were down 5.4% on Wednesday . The company traded as low as $119.57 and last traded at $121.58. Approximately 432,681 shares traded hands during trading, a decline of 32% from the average daily volume of 631,786 shares. The stock had previously closed at $128.53.

Direxion Daily NVDA Bull 2X Shares Stock Down 7.7 %

The business’s 50 day moving average is $98.18 and its 200-day moving average is $91.69.

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 $0.4973 dividend. The ex-dividend date was Tuesday, September 24th. This represents a $1.99 annualized dividend and a dividend yield of 1.68%. This is an increase from Direxion Daily NVDA Bull 2X Shares’s previous quarterly dividend of $0.48.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. IMC Chicago LLC boosted its holdings in Direxion Daily NVDA Bull 2X Shares by 54.7% in the first quarter. IMC Chicago LLC now owns 44,538 shares of the company’s stock worth $2,931,000 after purchasing an additional 15,749 shares during the period. Virtu Financial LLC bought a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the 1st quarter valued at about $2,517,000. Modera Wealth Management LLC acquired a new stake in Direxion Daily NVDA Bull 2X Shares during the second quarter worth about $556,000. AE Wealth Management LLC bought a new position in Direxion Daily NVDA Bull 2X Shares in the second quarter worth about $533,000. Finally, Creative Planning acquired a new position in Direxion Daily NVDA Bull 2X Shares in the third quarter valued at approximately $377,000.

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.