Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Down 5.4% – Here’s What Happened

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU)’s share price traded down 5.4% on Wednesday . The stock traded as low as $119.57 and last traded at $121.58. 432,681 shares changed hands during mid-day trading, a decline of 32% from the average session volume of 631,786 shares. The stock had previously closed at $128.53.

Direxion Daily NVDA Bull 2X Shares Price Performance

The firm has a 50 day moving average of $98.73 and a two-hundred day moving average of $91.89.

Direxion Daily NVDA Bull 2X Shares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 24th were issued a dividend of $0.4973 per share. The ex-dividend date of this dividend was Tuesday, September 24th. This is an increase 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 1.62%.

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

Several large investors have recently modified their holdings of the stock. Hollencrest Capital Management bought a new stake in Direxion Daily NVDA Bull 2X Shares during the 2nd quarter valued at about $111,000. SeaCrest Wealth Management LLC bought a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the second quarter valued at approximately $206,000. Creative Planning bought a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the third quarter valued at approximately $377,000. AE Wealth Management LLC purchased a new position in Direxion Daily NVDA Bull 2X Shares in the 2nd quarter worth approximately $533,000. Finally, Modera Wealth Management LLC bought a new position in Direxion Daily NVDA Bull 2X Shares in the 2nd quarter valued at approximately $556,000.

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.