Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Short Interest Update

As of October 15th, 2024, Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) experienced a notable decline in its short interest. The total short interest stood at 126,800 shares, marking a substantial decrease of 38.4% from the figure of 206,000 shares recorded on September 30th. Given an average daily trading volume of 984,700 shares, the current days-to-cover ratio is approximately 0.1 days.

Changes in Institutional Holdings

Recent activities among institutional investors and hedge funds have led to alterations in their stakes in Direxion Daily NVDA Bull 2X Shares. In the third quarter, Creative Planning acquired a new position in the fund valued at $377,000. AE Wealth Management LLC also established a new holding during the second quarter, amounting to roughly $533,000. Additionally, Hollencrest Capital Management invested approximately $111,000 in the second quarter, while Modera Wealth Management LLC added a stake valued at around $556,000. SeaCrest Wealth Management LLC also acquired shares during the second quarter worth about $206,000.

Stock Performance Overview

On Monday, Direxion Daily NVDA Bull 2X Shares opened at a price of $124.61. Over the past twelve months, the stock has experienced a low of $20.18 and a high of $146.87. The fifty-day simple moving average for the stock is currently $99.57, with the 200-day simple moving average sitting at $93.01.

Recent Dividend Increase

The company recently announced an upward adjustment to its quarterly dividend, which was disbursed on October 1st. Shareholders registered as of September 24th received a dividend payment of $0.4973. This marks an increase from the prior quarterly dividend of $0.48, resulting in an annualized dividend of $1.99 with a yield of 1.60%.

Company Profile

Direxion Daily NVDA Bull 2X Shares (NVDU) is an exchange-traded fund that primarily invests in equity pertaining to information technology. The fund aims to provide 2x leveraged exposure to the daily price movements of NVIDIA stock, subject to fees and expenses. Direxion launched this fund on September 13, 2023.

Direxion, NVDA, shortinterest