Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Sees Large Decline in Short Interest

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) was the recipient of a significant drop in short interest during the month of February. As of February 15th, there was short interest totalling 338,500 shares, a drop of 51.7% from the January 31st total of 700,400 shares. Based on an average trading volume of 1,194,300 shares, the short-interest ratio is currently 0.3 days.

Direxion Daily NVDA Bull 2X Shares Price Performance

Shares of NVDU stock traded up $5.12 during trading hours on Friday, hitting $72.60. 1,962,345 shares of the company’s stock traded hands, compared to its average volume of 1,493,935. The stock’s 50 day simple moving average is $89.81 and its 200 day simple moving average is $101.04. Direxion Daily NVDA Bull 2X Shares has a 12 month low of $44.91 and a 12 month high of $146.87.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

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

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

Several large investors have recently modified their holdings of NVDU. JPMorgan Chase & Co. bought a new position in shares of Direxion Daily NVDA Bull 2X Shares during the fourth quarter valued at $37,000. PayPay Securities Corp acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the fourth quarter worth $47,000. Tucker Asset Management LLC acquired a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the fourth quarter worth $51,000. Tower Research Capital LLC TRC increased its position in shares of Direxion Daily NVDA Bull 2X Shares by 9,110.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 921 shares of the company’s stock worth $86,000 after buying an additional 911 shares during the period. Finally, Barclays PLC increased 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 buying an additional 450 shares during the period.

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.