Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Short Interest Down 19.7% in July

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) was the recipient of a significant decrease in short interest in July. As of July 31st, there was short interest totalling 239,200 shares, a decrease of 19.7% from the July 15th total of 297,700 shares. Based on an average daily trading volume, of 721,900 shares, the short-interest ratio is currently 0.3 days.

Direxion Daily NVDA Bull 2X Shares Stock Performance

NVDU traded up $2.53 during trading on Friday, hitting $103.97. 775,034 shares of the company’s stock traded hands, compared to its average volume of 531,361. The company’s 50 day simple moving average is $105.09 and its two-hundred day simple moving average is $77.76. Direxion Daily NVDA Bull 2X Shares has a 12-month low of $20.18 and a 12-month high of $146.87.

Direxion Daily NVDA Bull 2X Shares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Tuesday, June 25th were issued a $0.4845 dividend. This represents a $1.94 annualized dividend and a yield of 1.86%. This is an increase from Direxion Daily NVDA Bull 2X Shares’s previous quarterly dividend of $0.18. The ex-dividend date was Tuesday, June 25th.

Hedge Funds Weigh In On Direxion Daily NVDA Bull 2X Shares

A number of hedge funds have recently bought and sold shares of the business. IMC Chicago LLC bought a new position in shares of Direxion Daily NVDA Bull 2X Shares during the 4th quarter valued at $802,000. Simplex Trading LLC lifted its holdings in Direxion Daily NVDA Bull 2X Shares by 41,174.4% in the first quarter. Simplex Trading LLC now owns 17,748 shares of the company’s stock valued at $1,168,000 after acquiring an additional 17,705 shares during the period. AE Wealth Management LLC purchased a new position in Direxion Daily NVDA Bull 2X Shares in the second quarter worth about $533,000. Hollencrest Capital Management purchased a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the 2nd quarter valued at about $111,000. Finally, Modera Wealth Management LLC bought a new position in shares of Direxion Daily NVDA Bull 2X Shares in the 2nd quarter worth approximately $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.