Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Sees Large Decrease in Short Interest

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) was the recipient of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 934,800 shares, a decrease of 15.0% from the March 15th total of 1,100,000 shares. Currently, 10.2% of the shares of the stock are short sold. Based on an average trading volume of 1,598,500 shares, the days-to-cover ratio is presently 0.6 days.

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

Several hedge funds have recently bought and sold shares of the company. Western Pacific Wealth Management LP acquired a new stake in Direxion Daily NVDA Bull 2X Shares in the 1st quarter valued at about $26,000. JPMorgan Chase & Co. acquired a new position in shares of Direxion Daily NVDA Bull 2X Shares in the fourth quarter worth $37,000. PayPay Securities Corp purchased a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the fourth quarter valued at $47,000. Tucker Asset Management LLC acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the fourth quarter valued at $51,000. Finally, Tower Research Capital LLC TRC increased its position in Direxion Daily NVDA Bull 2X Shares by 9,110.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 921 shares of the company’s stock worth $86,000 after purchasing an additional 911 shares in the last quarter.

Direxion Daily NVDA Bull 2X Shares Stock Performance

Direxion Daily NVDA Bull 2X Shares stock opened at $40.83 on Wednesday. The company has a market cap of $359.30 million, a P/E ratio of 28.79 and a beta of 4.15. Direxion Daily NVDA Bull 2X Shares has a one year low of $32.63 and a one year high of $146.87. The business has a fifty day moving average of $60.52 and a two-hundred day moving average of $90.59.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th were paid a dividend of $0.4201 per share. This represents a $1.68 annualized dividend and a dividend yield of 4.12%. The ex-dividend date was Tuesday, March 25th.

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.