Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Stock Price Down 5.8% – Here’s Why

Shares of Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) fell 5.8% on Tuesday . The stock traded as low as $108.09 and last traded at $108.87. 625,524 shares were traded during mid-day trading, a decline of 34% from the average session volume of 943,969 shares. The stock had previously closed at $115.54.

Direxion Daily NVDA Bull 2X Shares Price Performance

The firm’s 50 day simple moving average is $112.80 and its 200-day simple moving average is $104.92.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The firm also recently declared 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

Several large investors have recently bought and sold shares of the business. Hollencrest Capital Management purchased a new stake in Direxion Daily NVDA Bull 2X Shares during the second quarter worth about $111,000. Barclays PLC boosted its stake in shares of Direxion Daily NVDA Bull 2X Shares by 45.0% during the 3rd quarter. Barclays PLC now owns 1,450 shares of the company’s stock worth $136,000 after acquiring an additional 450 shares in the last quarter. Captrust Financial Advisors acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the 3rd quarter worth approximately $374,000. Creative Planning purchased a new position in Direxion Daily NVDA Bull 2X Shares in the 3rd quarter valued at approximately $377,000. Finally, AE Wealth Management LLC purchased a new position in Direxion Daily NVDA Bull 2X Shares in the 2nd quarter valued at approximately $533,000.

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.