Short Interest in Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Drops By 17.4%

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) was the target of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 104,700 shares, a decline of 17.4% from the October 15th total of 126,800 shares. Based on an average daily trading volume, of 967,400 shares, the short-interest ratio is currently 0.1 days.

Direxion Daily NVDA Bull 2X Shares Stock Performance

NVDU traded down $8.73 during trading on Friday, reaching $123.79. 1,072,350 shares of the stock traded hands, compared to its average volume of 656,567. The stock’s 50-day moving average is $107.36 and its 200 day moving average is $99.27. Direxion Daily NVDA Bull 2X Shares has a 12 month low of $24.48 and a 12 month high of $146.87.

Direxion Daily NVDA Bull 2X Shares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 24th were given a dividend of $0.4973 per share. This is a positive change from Direxion Daily NVDA Bull 2X Shares’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $1.99 annualized dividend and a dividend yield of 1.61%.

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

Several large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new position in shares of Direxion Daily NVDA Bull 2X Shares during the 1st quarter worth approximately $2,517,000. Flow Traders U.S. LLC acquired a new position in shares of Direxion Daily NVDA Bull 2X Shares during the 3rd quarter valued at $2,165,000. Modera Wealth Management LLC bought a new position in Direxion Daily NVDA Bull 2X Shares during the second quarter worth $556,000. AE Wealth Management LLC bought a new position in Direxion Daily NVDA Bull 2X Shares during the second quarter worth $533,000. Finally, Creative Planning acquired a new stake in Direxion Daily NVDA Bull 2X Shares in the third quarter worth $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.