Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Gap Up – Still a Buy?

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) shares gapped up before the market opened on Monday . The stock had previously closed at $85.26, but opened at $88.40. Direxion Daily NVDA Bull 2X Shares shares last traded at $86.00, with a volume of 493,964 shares.

Direxion Daily NVDA Bull 2X Shares Stock Performance

The firm has a 50 day moving average price of $90.84 and a 200 day moving average price of $101.47.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NVDU. JPMorgan Chase & Co. purchased a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the fourth quarter worth about $37,000. PayPay Securities Corp purchased a new stake in Direxion Daily NVDA Bull 2X Shares during the 4th quarter worth approximately $47,000. Tucker Asset Management LLC acquired a new position in Direxion Daily NVDA Bull 2X Shares during the 4th quarter valued at approximately $51,000. Tower Research Capital LLC TRC raised its holdings in shares of 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 worth $86,000 after buying an additional 911 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Direxion Daily NVDA Bull 2X Shares by 45.0% during the third quarter. Barclays PLC now owns 1,450 shares of the company’s stock worth $136,000 after buying an additional 450 shares during the period.

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.