Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Stock Price Down 6.2% - Time to Sell?
The share price of Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) fell by 6.2% during trading on Wednesday. The stock traded at a low of $116.50 and was last recorded at $116.51. During mid-day trading, approximately 74,604 shares exchanged hands, marking an 88% decline from its average daily volume of 645,519 shares. Prior to this decline, the stock had closed at $124.25.
Direxion Daily NVDA Bull 2X Shares Price Performance
The company's fifty-day moving average price stands at $100.09, while its 200-day moving average price rests at $93.85. These figures suggest a positive long-term trend, even as the share price declined.
Direxion Daily NVDA Bull 2X Shares Increases Dividend
Meanwhile, the firm recently declared a quarterly dividend that was paid on Tuesday, October 1st. Shareholders of record as of September 24th received a dividend of $0.4973, translating to an annualized dividend of $1.99 and providing a dividend yield of 1.64%. This increase from its previous quarterly dividend of $0.48 reflects the company's commitment to returning value to its shareholders.
Hedge Funds Weigh In On Direxion Daily NVDA Bull 2X Shares
Several hedge funds and institutional investors have actively exchanged shares in Direxion Daily NVDA Bull 2X Shares recently. Notable transactions include Virtu Financial LLC acquiring a new position valued at $2,517,000 in the first quarter, and Modera Wealth Management LLC investing $556,000 in the second quarter. Additionally, AE Wealth Management LLC and Creative Planning have added positions worth $533,000 and $377,000, respectively. SeaCrest Wealth Management LLC also increased its stake in the second quarter, investing $206,000.
About Direxion Daily NVDA Bull 2X Shares
The Direxion Daily NVDA Bull 2X Shares (NVDU) is an exchange-traded fund (ETF) primarily focused on information technology equities. The fund seeks to provide 2x leveraged exposure to the daily price movements of NVIDIA stock, after accounting for fees and expenses. NVDU was launched on September 13, 2023, and is managed by Direxion.
Should You Invest Now?
Before making any investment decisions, especially in turbulent market scenarios, it is advisable to consider expert analyses and predictions. Currently, Direxion Daily NVDA Bull 2X Shares holds a "hold" rating among analysts, but there are other stocks that are recommended by top analysts. Make sure to research thoroughly before committing your investments.
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