Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Trading 6.8% Higher – Still a Buy?

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) shares traded up 6.8% on Wednesday . The stock traded as high as $117.53 and last traded at $117.47. 454,826 shares changed hands during trading, a decline of 32% from the average session volume of 667,742 shares. The stock had previously closed at $110.00.

Direxion Daily NVDA Bull 2X Shares Trading Up 6.3 %

The company has a 50-day moving average price of $119.34 and a two-hundred day moving average price of $106.72.

Direxion Daily NVDA Bull 2X Shares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 24th were given a $0.4973 dividend. This represents a $1.99 annualized dividend and a dividend yield of 1.70%. This is a boost from Direxion Daily NVDA Bull 2X Shares’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Tuesday, September 24th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Hollencrest Capital Management bought a new position in shares of Direxion Daily NVDA Bull 2X Shares in the second quarter worth approximately $111,000. Barclays PLC increased its position in shares of Direxion Daily NVDA Bull 2X Shares by 45.0% in the third quarter. Barclays PLC now owns 1,450 shares of the company’s stock worth $136,000 after purchasing an additional 450 shares during the last quarter. SeaCrest Wealth Management LLC bought a new position in shares of Direxion Daily NVDA Bull 2X Shares in the second quarter worth approximately $206,000. Captrust Financial Advisors bought a new position in shares of Direxion Daily NVDA Bull 2X Shares in the third quarter worth approximately $374,000. Finally, Creative Planning bought a new position in shares of Direxion Daily NVDA Bull 2X Shares in the third quarter worth approximately $377,000.

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.