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

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU - Get Free Report) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 934,800 shares, a drop of 15.0% from the March 15th total of 1,100,000 shares. Approximately 10.2% of the company's stock are short sold. Based on an average daily volume of 1,598,500 shares, the short-interest ratio is currently 0.6 days.

Direxion Daily NVDA Bull 2X Shares Trading Up 8.5 %

NASDAQ NVDU traded up $4.01 during trading on Friday, reaching $51.09. The company's stock had a trading volume of 1,064,538 shares, compared to its average volume of 1,560,026. The business has a 50-day moving average price of $58.69 and a 200-day moving average price of $89.88. Direxion Daily NVDA Bull 2X Shares has a 1-year low of $32.63 and a 1-year high of $146.87. The stock has a market capitalization of $460.83 million, a PE ratio of 28.79 and a beta of 4.15.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were issued a dividend of $0.4201 per share. The ex-dividend date of this dividend was Tuesday, March 25th. This represents a $1.68 annualized dividend and a yield of 3.29%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NVDU. Barclays PLC lifted its position in Direxion Daily NVDA Bull 2X Shares by 45.0% during the 3rd quarter. Barclays PLC now owns 1,450 shares of the company's stock worth $136,000 after acquiring an additional 450 shares during the last quarter. Beaird Harris Wealth Management LLC bought a new position in Direxion Daily NVDA Bull 2X Shares in the 3rd quarter worth approximately $557,000. Chicago Partners Investment Group LLC acquired a new position in shares of Direxion Daily NVDA Bull 2X Shares during the fourth quarter worth approximately $206,000. PayPay Securities Corp bought a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the fourth quarter valued at approximately $47,000. Finally, Lake Street Advisors Group LLC bought a new stake in Direxion Daily NVDA Bull 2X Shares in the 4th quarter valued at $411,000.

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.