Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Shares Gap Up – Should You Buy?

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) gapped up prior to trading on Wednesday . The stock had previously closed at $101.14, but opened at $106.79. Direxion Daily NVDA Bull 2X Shares shares last traded at $110.30, with a volume of 383,414 shares.

Direxion Daily NVDA Bull 2X Shares Price Performance

The firm has a 50-day moving average price of $107.42 and a 200-day moving average price of $103.71.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The company also recently declared a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.6505 dividend. The ex-dividend date of this dividend was Monday, December 23rd.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. AE Wealth Management LLC purchased a new stake in Direxion Daily NVDA Bull 2X Shares during the 2nd quarter valued at $533,000. Creative Planning acquired a new position in shares of Direxion Daily NVDA Bull 2X Shares during the third quarter worth $377,000. Captrust Financial Advisors purchased a new position in shares of Direxion Daily NVDA Bull 2X Shares in the 3rd quarter valued at approximately $374,000. Flow Traders U.S. LLC acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the third quarter worth about $2,165,000. Finally, Barclays PLC grew its holdings in 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 acquiring an additional 450 shares during the period.

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.