Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Short Interest Up 79.6% in March

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,100,000 shares, a growth of 79.6% from the February 28th total of 612,400 shares. Currently, 14.7% of the company’s stock are short sold. Based on an average daily trading volume, of 1,430,400 shares, the days-to-cover ratio is presently 0.8 days.

Direxion Daily NVDA Bull 2X Shares Price Performance

Direxion Daily NVDA Bull 2X Shares stock opened at $53.49 on Monday. The stock has a market cap of $401.18 million, a PE ratio of 43.89 and a beta of 4.15. The stock’s fifty day moving average is $74.42 and its two-hundred day moving average is $96.42. Direxion Daily NVDA Bull 2X Shares has a 1-year low of $44.91 and a 1-year high of $146.87.

Direxion Daily NVDA Bull 2X Shares Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th will be given a dividend of $0.4201 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Tuesday, March 25th.

Institutional Investors Weigh In On Direxion Daily NVDA Bull 2X Shares

Several institutional investors have recently added to or reduced their stakes in NVDU. JPMorgan Chase & Co. purchased a new stake in shares of Direxion Daily NVDA Bull 2X Shares during the 4th quarter worth approximately $37,000. PayPay Securities Corp purchased a new position in Direxion Daily NVDA Bull 2X Shares during the 4th quarter worth $47,000. Tucker Asset Management LLC purchased a new position in Direxion Daily NVDA Bull 2X Shares during the 4th quarter worth $51,000. Tower Research Capital LLC TRC increased its stake in Direxion Daily NVDA Bull 2X Shares by 9,110.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 921 shares of the company’s stock valued at $86,000 after purchasing an additional 911 shares during the period. Finally, Barclays PLC raised its holdings in shares of Direxion Daily NVDA Bull 2X Shares by 45.0% in the third quarter. Barclays PLC now owns 1,450 shares of the company’s stock valued at $136,000 after buying an additional 450 shares during the last quarter.

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.