Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Trading Down 3.8% – Here’s Why

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU)’s share price traded down 3.8% during trading on Friday . The stock traded as low as $105.79 and last traded at $106.03. 593,113 shares changed hands during trading, a decline of 33% from the average session volume of 880,491 shares. The stock had previously closed at $110.19.

Direxion Daily NVDA Bull 2X Shares Trading Down 6.2 %

The company has a fifty day simple moving average of $106.53 and a two-hundred day simple moving average of $103.80.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

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

Institutional Investors Weigh In On Direxion Daily NVDA Bull 2X Shares

Hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC boosted 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 valued at $136,000 after purchasing an additional 450 shares during the period. Chicago Partners Investment Group LLC bought a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the fourth quarter valued at about $206,000. Captrust Financial Advisors bought a new position in Direxion Daily NVDA Bull 2X Shares during the third quarter valued at about $374,000. Creative Planning acquired a new position in Direxion Daily NVDA Bull 2X Shares in the 3rd quarter valued at 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 approximately $533,000.

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.