Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Stock Price Down 5.8% – Time to Sell?

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) shares traded down 5.8% during trading on Tuesday . The stock traded as low as $108.09 and last traded at $108.87. 625,524 shares were traded during 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 stock has a 50-day moving average price of $112.80 and a two-hundred day moving average price of $104.92.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The business also recently declared a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued 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

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC increased its stake in shares of Direxion Daily NVDA Bull 2X Shares by 45.0% during the third quarter. Barclays PLC now owns 1,450 shares of the company’s stock worth $136,000 after buying an additional 450 shares during the period. Hollencrest Capital Management purchased a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the 2nd quarter valued at approximately $111,000. Captrust Financial Advisors acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares in the 3rd quarter valued at $374,000. Creative Planning purchased a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the 3rd quarter worth $377,000. Finally, AE Wealth Management LLC acquired a new position in shares of Direxion Daily NVDA Bull 2X Shares during the second quarter worth $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.