Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Stock Price Down 7.5% – Time to Sell?

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) dropped 7.5% during trading on Friday . The company traded as low as $121.80 and last traded at $122.62. Approximately 635,299 shares changed hands during mid-day trading, a decline of 3% from the average daily volume of 654,582 shares. The stock had previously closed at $132.52.

Direxion Daily NVDA Bull 2X Shares Price Performance

The stock’s 50-day simple moving average is $107.36 and its 200 day simple moving average is $99.27.

Direxion Daily NVDA Bull 2X Shares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 24th were issued a $0.4973 dividend. This is a positive change from Direxion Daily NVDA Bull 2X Shares’s previous quarterly dividend of $0.48. This represents a $1.99 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Tuesday, September 24th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the first quarter valued at $2,517,000. Flow Traders U.S. LLC acquired a new position in Direxion Daily NVDA Bull 2X Shares in the 3rd quarter valued at about $2,165,000. Modera Wealth Management LLC purchased a new stake in Direxion Daily NVDA Bull 2X Shares during the second quarter worth about $556,000. AE Wealth Management LLC acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the second quarter worth about $533,000. Finally, Creative Planning purchased a new position in shares of 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.