Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Trading Up 6.8% Following Dividend Announcement

Shares of Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) were up 6.8% during mid-day trading on Wednesday after the company announced a dividend. The stock traded as high as $117.53 and last traded at $117.47. Approximately 454,826 shares traded hands during trading, a decline of 32% from the average daily volume of 667,742 shares. The stock had previously closed at $110.00.

The newly announced dividend which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 12th will be paid a $13.8797 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This is an increase from Direxion Daily NVDA Bull 2X Shares’s previous dividend of $0.18.

Direxion Daily NVDA Bull 2X Shares Stock Performance

The company has a 50-day simple moving average of $119.98 and a 200-day simple moving average of $106.74.

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

A number of large investors have recently bought and sold shares of the business. Barclays PLC lifted its position 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 purchasing an additional 450 shares during the last quarter. Hollencrest Capital Management purchased a new stake in Direxion Daily NVDA Bull 2X Shares in the 2nd quarter valued at about $111,000. SeaCrest Wealth Management LLC bought a new position in Direxion Daily NVDA Bull 2X Shares in the 2nd quarter worth about $206,000. Captrust Financial Advisors purchased a new position in shares of Direxion Daily NVDA Bull 2X Shares during the third quarter worth approximately $374,000. Finally, Creative Planning bought a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the third quarter valued at approximately $377,000.

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.