Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Sees Significant Increase in Short Interest

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) was the target of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 1,100,000 shares, an increase of 79.6% from the February 28th total of 612,400 shares. Based on an average trading volume of 1,430,400 shares, the short-interest ratio is presently 0.8 days. Approximately 14.7% of the shares of the stock are short sold.

Institutional Trading of Direxion Daily NVDA Bull 2X Shares

Several large investors have recently modified their holdings of the business. Beaird Harris Wealth Management LLC purchased a new stake in Direxion Daily NVDA Bull 2X Shares in the 3rd quarter valued at approximately $557,000. SBI Securities Co. Ltd. purchased a new position in Direxion Daily NVDA Bull 2X Shares during the fourth quarter worth $4,593,000. Flow Traders U.S. LLC acquired a new position in shares of Direxion Daily NVDA Bull 2X Shares in the third quarter worth $2,165,000. Lake Street Advisors Group LLC purchased a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the fourth quarter valued at $411,000. Finally, Virtu Financial LLC acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the fourth quarter valued at $1,155,000.

Direxion Daily NVDA Bull 2X Shares Price Performance

NVDU traded down $1.84 during trading on Friday, reaching $53.49. 824,376 shares of the stock were exchanged, compared to its average volume of 1,484,769. Direxion Daily NVDA Bull 2X Shares has a 1 year low of $44.91 and a 1 year high of $146.87. The company has a market capitalization of $401.18 million, a price-to-earnings ratio of 43.89 and a beta of 4.15. The business’s 50 day moving average price is $74.42 and its two-hundred day moving average price is $96.36.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th will be paid a $0.4201 dividend. The ex-dividend date is Tuesday, March 25th. This represents a $1.68 dividend on an annualized basis and a yield of 3.14%.

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.