Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Down 6.2% – Time to Sell?

Shares of Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) fell 6.2% on Wednesday . The stock traded as low as $116.50 and last traded at $116.51. 74,604 shares changed hands during mid-day 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 Stock Down 2.2 %

The firm’s 50 day moving average is $100.09 and its two-hundred day moving average is $93.85.

Direxion Daily NVDA Bull 2X Shares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 24th were paid a dividend of $0.4973 per share. The ex-dividend date was Tuesday, September 24th. This represents a $1.99 dividend on an annualized basis and a dividend yield of 1.64%. This is an increase from Direxion Daily NVDA Bull 2X Shares’s previous quarterly dividend of $0.48.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Creative Planning acquired a new stake in Direxion Daily NVDA Bull 2X Shares during the 3rd quarter worth approximately $377,000. AE Wealth Management LLC acquired a new stake in Direxion Daily NVDA Bull 2X Shares in the second quarter valued at approximately $533,000. Hollencrest Capital Management acquired a new stake in Direxion Daily NVDA Bull 2X Shares in the second quarter valued at approximately $111,000. Modera Wealth Management LLC acquired a new stake in Direxion Daily NVDA Bull 2X Shares in the second quarter valued at approximately $556,000. Finally, SeaCrest Wealth Management LLC acquired a new stake in Direxion Daily NVDA Bull 2X Shares in the second quarter valued at approximately $206,000.

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.