Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Sees Strong Trading Volume – Still a Buy?

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) shares saw unusually-high trading volume on Tuesday . Approximately 528,022 shares traded hands during mid-day trading, a decline of 14% from the previous session’s volume of 617,398 shares.The stock last traded at $111.40 and had previously closed at $119.69.

Direxion Daily NVDA Bull 2X Shares Price Performance

The firm has a 50 day moving average price of $94.71 and a 200-day moving average price of $89.80.

Direxion Daily NVDA Bull 2X Shares Increases Dividend

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

Institutional Investors Weigh In On Direxion Daily NVDA Bull 2X Shares

Large investors have recently modified their holdings of the company. IMC Chicago LLC increased its holdings in Direxion Daily NVDA Bull 2X Shares by 54.7% in the first quarter. IMC Chicago LLC now owns 44,538 shares of the company’s stock valued at $2,931,000 after buying an additional 15,749 shares during the last quarter. Virtu Financial LLC purchased a new stake in Direxion Daily NVDA Bull 2X Shares during the first quarter worth approximately $2,517,000. SeaCrest Wealth Management LLC purchased a new stake in Direxion Daily NVDA Bull 2X Shares during the second quarter worth approximately $206,000. Modera Wealth Management LLC acquired a new stake in Direxion Daily NVDA Bull 2X Shares during the second quarter worth approximately $556,000. Finally, Hollencrest Capital Management purchased a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the 2nd quarter worth approximately $111,000.

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.