Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Down 4.3% – Time to Sell?

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU)’s share price dropped 4.3% on Tuesday . The company traded as low as $93.44 and last traded at $93.93. Approximately 708,399 shares changed hands during mid-day trading, an increase of 4% from the average daily volume of 683,408 shares. The stock had previously closed at $98.20.

Direxion Daily NVDA Bull 2X Shares Trading Down 4.7 %

The stock has a fifty day simple moving average of $114.61 and a 200-day simple moving average of $105.77.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

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

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVDU. Hollencrest Capital Management acquired a new stake in Direxion Daily NVDA Bull 2X Shares during the second quarter worth approximately $111,000. Barclays PLC grew its position in shares of Direxion Daily NVDA Bull 2X Shares by 45.0% in the 3rd quarter. Barclays PLC now owns 1,450 shares of the company’s stock valued at $136,000 after buying an additional 450 shares during the last quarter. Captrust Financial Advisors acquired a new stake in Direxion Daily NVDA Bull 2X Shares during the 3rd quarter worth $374,000. Creative Planning acquired a new stake in Direxion Daily NVDA Bull 2X Shares during the 3rd quarter worth $377,000. Finally, AE Wealth Management LLC purchased a new stake in Direxion Daily NVDA Bull 2X Shares in the second quarter valued at $533,000.

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.