Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Trading Down 3.8% – Should You Sell?

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) dropped 3.8% during mid-day trading on Friday . The stock traded as low as $105.79 and last traded at $106.03. Approximately 593,113 shares changed hands during trading, a decline of 33% from the average daily volume of 880,491 shares. The stock had previously closed at $110.19.

Direxion Daily NVDA Bull 2X Shares Stock Performance

The company has a 50 day moving average of $106.12 and a 200-day moving average of $103.69.

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 issued a $0.6505 dividend. The ex-dividend date was Monday, December 23rd.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVDU. Flow Traders U.S. LLC acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the 3rd quarter worth approximately $2,165,000. Beaird Harris Wealth Management LLC bought a new stake in Direxion Daily NVDA Bull 2X Shares during the third quarter worth approximately $557,000. Creative Planning bought a new stake in Direxion Daily NVDA Bull 2X Shares during the third quarter worth approximately $377,000. Captrust Financial Advisors acquired a new stake in Direxion Daily NVDA Bull 2X Shares in the third quarter worth approximately $374,000. Finally, Chicago Partners Investment Group LLC bought a new position in Direxion Daily NVDA Bull 2X Shares during the 4th quarter valued at $206,000.

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.