Short Interest in Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Drops By 22.4%

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) was the target of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 162,300 shares, a drop of 22.4% from the December 15th total of 209,100 shares. Based on an average trading volume of 936,100 shares, the short-interest ratio is presently 0.2 days.

Direxion Daily NVDA Bull 2X Shares Price Performance

Direxion Daily NVDA Bull 2X Shares stock traded up $5.61 during mid-day trading on Friday, hitting $96.83. The stock had a trading volume of 604,150 shares, compared to its average volume of 929,973. The stock has a 50-day simple moving average of $109.53 and a two-hundred day simple moving average of $104.21. Direxion Daily NVDA Bull 2X Shares has a 12 month low of $33.40 and a 12 month high of $146.87.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The business also recently announced a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.6505 per share. The ex-dividend date of this dividend was Monday, December 23rd.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Beaird Harris Wealth Management LLC bought a new position in Direxion Daily NVDA Bull 2X Shares during the third quarter worth about $557,000. Barclays PLC boosted its holdings in Direxion Daily NVDA Bull 2X Shares by 45.0% during the third quarter. Barclays PLC now owns 1,450 shares of the company’s stock worth $136,000 after buying an additional 450 shares during the last quarter. Flow Traders U.S. LLC bought a new position in Direxion Daily NVDA Bull 2X Shares during the third quarter worth about $2,165,000. Captrust Financial Advisors bought a new position in Direxion Daily NVDA Bull 2X Shares during the third quarter worth about $374,000. Finally, Creative Planning bought a new position in Direxion Daily NVDA Bull 2X Shares during the third quarter worth about $377,000.

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.