Short Interest in Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Expands By 80.9%

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) was the target of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 612,400 shares, an increase of 80.9% from the February 13th total of 338,500 shares. Approximately 8.2% of the company’s shares are sold short. Based on an average daily volume of 1,358,100 shares, the short-interest ratio is presently 0.5 days.

Direxion Daily NVDA Bull 2X Shares Stock Performance

NVDU traded up $6.16 during trading on Friday, reaching $67.06. The company had a trading volume of 1,535,912 shares, compared to its average volume of 1,567,828. Direxion Daily NVDA Bull 2X Shares has a 12-month low of $44.91 and a 12-month high of $146.87. The company has a market cap of $502.95 million, a price-to-earnings ratio of 43.41 and a beta of 4.15. The firm’s 50-day simple moving average is $81.73 and its 200 day simple moving average is $97.87.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.6505 dividend. The ex-dividend date of this dividend was Monday, December 23rd.

Institutional Trading of Direxion Daily NVDA Bull 2X Shares

Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. acquired a new position in Direxion Daily NVDA Bull 2X Shares in the 4th quarter valued at approximately $37,000. PayPay Securities Corp purchased a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the fourth quarter worth $47,000. Tucker Asset Management LLC acquired a new stake in Direxion Daily NVDA Bull 2X Shares during the fourth quarter valued at $51,000. Tower Research Capital LLC TRC grew its stake in Direxion Daily NVDA Bull 2X Shares by 9,110.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 921 shares of the company’s stock valued at $86,000 after purchasing an additional 911 shares in the last quarter. Finally, Barclays PLC grew its stake in Direxion Daily NVDA Bull 2X Shares by 45.0% in the third quarter. Barclays PLC now owns 1,450 shares of the company’s stock valued at $136,000 after purchasing an additional 450 shares in the last quarter.

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.