Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Stock Price Down 7.5% – Time to Sell?

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU)’s stock price traded down 7.5% during mid-day trading on Friday . The stock traded as low as $121.80 and last traded at $122.62. 635,299 shares traded hands during mid-day trading, a decline of 3% from the average session volume of 654,582 shares. The stock had previously closed at $132.52.

Direxion Daily NVDA Bull 2X Shares Price Performance

The stock has a 50-day moving average price of $108.46 and a 200-day moving average price of $100.01.

Direxion Daily NVDA Bull 2X Shares Increases Dividend

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

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

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.