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

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU - Get Free Report) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 1,100,000 shares, an increase of 79.6% from the February 28th total of 612,400 shares. Based on an average daily volume of 1,430,400 shares, the days-to-cover ratio is presently 0.8 days. Approximately 14.7% of the shares of the stock are short sold.

Direxion Daily NVDA Bull 2X Shares Trading Up 0.1 %

Shares of NVDU stock traded up $0.05 during mid-day trading on Wednesday, reaching $54.02. The stock had a trading volume of 1,102,956 shares, compared to its average volume of 1,460,766. Direxion Daily NVDA Bull 2X Shares has a 12-month low of $44.91 and a 12-month high of $146.87. The business has a 50-day simple moving average of $72.59 and a 200 day simple moving average of $95.88. The company has a market cap of $405.15 million, a P/E ratio of 43.89 and a beta of 4.15.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The firm also recently disclosed 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. The ex-dividend date was Tuesday, March 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.11%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NVDU. SBI Securities Co. Ltd. purchased a new position in Direxion Daily NVDA Bull 2X Shares during the fourth quarter worth $4,593,000. Optiver Holding B.V. boosted its holdings in shares of Direxion Daily NVDA Bull 2X Shares by 2,158.3% during the fourth quarter. Optiver Holding B.V. now owns 42,389 shares of the company's stock worth $3,967,000 after purchasing an additional 40,512 shares during the last quarter. Jane Street Group LLC increased its stake in Direxion Daily NVDA Bull 2X Shares by 54.8% in the fourth quarter. Jane Street Group LLC now owns 81,848 shares of the company's stock valued at $7,660,000 after purchasing an additional 28,963 shares during the last quarter. Flow Traders U.S. LLC purchased a new position in Direxion Daily NVDA Bull 2X Shares during the third quarter worth about $2,165,000. Finally, NorthRock Partners LLC acquired a new stake in Direxion Daily NVDA Bull 2X Shares in the 4th quarter worth about $1,517,000.

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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.