Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Short Interest Up 80.9% in February

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) saw a large increase in short interest in February. As of February 28th, there was short interest totalling 612,400 shares, an increase of 80.9% from the February 13th total of 338,500 shares. Based on an average trading volume of 1,358,100 shares, the days-to-cover ratio is currently 0.5 days. Currently, 8.2% of the company’s stock are sold short.

Direxion Daily NVDA Bull 2X Shares Price Performance

Shares of NVDU stock traded up $6.16 during trading on Friday, reaching $67.06. The company had a trading volume of 1,535,912 shares, compared to its average volume of 1,567,828. The company has a market capitalization of $502.95 million, a PE ratio of 43.41 and a beta of 4.15. The firm’s 50 day simple moving average is $81.73 and its two-hundred day simple moving average is $97.87. Direxion Daily NVDA Bull 2X Shares has a one year low of $44.91 and a one year high of $146.87.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The company also recently announced a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.6505 dividend. The ex-dividend date was Monday, December 23rd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NVDU. JPMorgan Chase & Co. bought a new position in shares of Direxion Daily NVDA Bull 2X Shares in the fourth quarter worth about $37,000. PayPay Securities Corp bought a new stake in Direxion Daily NVDA Bull 2X Shares during the 4th quarter valued at approximately $47,000. Tucker Asset Management LLC acquired a new stake in Direxion Daily NVDA Bull 2X Shares in the 4th quarter valued at approximately $51,000. Tower Research Capital LLC TRC increased its position in Direxion Daily NVDA Bull 2X Shares by 9,110.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 921 shares of the company’s stock worth $86,000 after buying an additional 911 shares during the period. Finally, Barclays PLC lifted its holdings in shares of Direxion Daily NVDA Bull 2X Shares by 45.0% during the third quarter. Barclays PLC now owns 1,450 shares of the company’s stock worth $136,000 after buying an additional 450 shares during the last quarter.

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.