Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Sees Large Volume Increase – Here’s What Happened

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) saw an uptick in trading volume on Friday . 2,360,637 shares were traded during mid-day trading, an increase of 270% from the previous session’s volume of 638,473 shares.The stock last traded at $128.24 and had previously closed at $122.85.

Direxion Daily NVDA Bull 2X Shares Stock Performance

The firm’s 50-day moving average is $99.57 and its 200 day moving average is $92.79.

Direxion Daily NVDA Bull 2X Shares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 24th were issued a dividend of $0.4973 per share. This represents a $1.99 dividend on an annualized basis and a dividend yield of 1.60%. This is an increase from Direxion Daily NVDA Bull 2X Shares’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Tuesday, September 24th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVDU. Creative Planning acquired a new position in shares of Direxion Daily NVDA Bull 2X Shares in the 3rd quarter valued at about $377,000. AE Wealth Management LLC purchased a new position in Direxion Daily NVDA Bull 2X Shares in the second quarter valued at approximately $533,000. Hollencrest Capital Management acquired a new position in Direxion Daily NVDA Bull 2X Shares during the second quarter valued at approximately $111,000. Modera Wealth Management LLC acquired a new position in Direxion Daily NVDA Bull 2X Shares during the second quarter valued at approximately $556,000. Finally, SeaCrest Wealth Management LLC purchased a new stake in Direxion Daily NVDA Bull 2X Shares during the second quarter worth approximately $206,000.

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.