Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Trading Down 6.2% – Should You Sell?

Shares of Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) fell 6.2% during mid-day trading on Wednesday . The stock traded as low as $116.50 and last traded at $116.51. 74,604 shares were traded during trading, a decline of 88% from the average session volume of 645,519 shares. The stock had previously closed at $124.25.

Direxion Daily NVDA Bull 2X Shares Trading Down 9.7 %

The company’s 50-day moving average price is $100.44 and its 200-day moving average price is $94.15.

Direxion Daily NVDA Bull 2X Shares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 24th were given a $0.4973 dividend. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $1.99 dividend on an annualized basis and a yield of 1.82%. This is an increase from Direxion Daily NVDA Bull 2X Shares’s previous quarterly dividend of $0.48.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Hollencrest Capital Management acquired a new stake in Direxion Daily NVDA Bull 2X Shares in the second quarter valued at $111,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the 2nd quarter worth about $206,000. Creative Planning bought a new stake in Direxion Daily NVDA Bull 2X Shares in the 3rd quarter valued at about $377,000. AE Wealth Management LLC acquired a new stake in Direxion Daily NVDA Bull 2X Shares during the second quarter worth approximately $533,000. Finally, Modera Wealth Management LLC bought a new position in Direxion Daily NVDA Bull 2X Shares during the 2nd quarter worth $556,000.

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.