Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Down 5.8% – Should You Sell?

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU)’s share price fell 5.8% on Friday . The stock traded as low as $123.90 and last traded at $123.90. 421,649 shares were traded during mid-day trading, a decline of 37% from the average session volume of 666,714 shares. The stock had previously closed at $131.56.

Direxion Daily NVDA Bull 2X Shares Stock Performance

The firm has a 50 day simple moving average of $112.80 and a 200-day simple moving average of $102.37.

Direxion Daily NVDA Bull 2X Shares Increases Dividend

The firm also recently disclosed 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 represents a $1.99 dividend on an annualized basis and a dividend yield of 1.62%. This is an increase 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.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Hollencrest Capital Management purchased a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the 2nd quarter valued at approximately $111,000. Barclays PLC increased its holdings in Direxion Daily NVDA Bull 2X Shares by 45.0% in the 3rd quarter. Barclays PLC now owns 1,450 shares of the company’s stock valued at $136,000 after purchasing an additional 450 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new stake in Direxion Daily NVDA Bull 2X Shares in the second quarter valued at approximately $206,000. Captrust Financial Advisors acquired a new position in Direxion Daily NVDA Bull 2X Shares during the third quarter worth $374,000. Finally, Creative Planning purchased a new position in shares of Direxion Daily NVDA Bull 2X Shares during 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.