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

Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) has witnessed a notable decrease in short interest during February. As of February 15th, the total short interest dropped to 338,500 shares, which represents a substantial decline of 51.7% from the January 31st figure of 700,400 shares. With an average trading volume of 1,194,300 shares daily, the current days-to-cover ratio stands at 0.3 days.

Institutional Trading Activity for Direxion Daily NVDA Bull 2X Shares

Recently, several large institutional investors have made adjustments to their holdings in NVDU. SBI Securities Co. Ltd. has acquired a new stake valued at approximately $4,593,000 during the fourth quarter. Meanwhile, Optiver Holding B.V. expanded its position by a remarkable 2,158.3% in the same quarter, now holding 42,389 shares worth $3,967,000 after adding 40,512 shares. Additionally, Jane Street Group LLC increased its investment by 54.8%, now owning 81,848 shares valued at $7,660,000 following the purchase of an extra 28,963 shares. Flow Traders U.S. LLC also entered the position with a new purchase in the third quarter valued at around $2,165,000, while NorthRock Partners LLC invested approximately $1,517,000 in NVDU during the fourth quarter.

Performance of Direxion Daily NVDA Bull 2X Shares

On Friday, shares of NASDAQ NVDU experienced a rise of $5.12, reaching a value of $72.60. A total of 1,962,345 shares were exchanged during trading hours, surpassing the average volume of 1,493,935. The stock's fifty-day simple moving average is reported at $89.81, while the two-hundred-day simple moving average is $101.04. Over the past year, Direxion Daily NVDA Bull 2X Shares recorded a low of $44.91 and a peak of $146.87.

Dividend Update for Direxion Daily NVDA Bull 2X Shares

The company recently announced a dividend that was paid on December 31st. Shareholders recorded as of December 23rd received a dividend of $0.6505 per share, with the ex-dividend date also on December 23rd.

Company Overview of Direxion Daily NVDA Bull 2X Shares

Direxion Daily NVDA Bull 2X Shares (NVDU) is an exchange-traded fund focusing predominantly on information technology stocks. It aims to provide 2x leveraged exposure to the daily price movements of NVIDIA stock, minus fees and expenses. NVDU was launched on September 13, 2023, and is managed by Direxion.

Investment Considerations

Investors should carefully consider whether to invest in Direxion Daily NVDA Bull 2X Shares at this time. While it currently holds a 'Hold' rating from analysts, there are five other stocks recommended by top-rated analysts that may offer better opportunities.

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