Short Interest in Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) Sees Dramatic Drop of 53.1%

The Direxion Daily NVDA Bull 2X Shares (NASDAQ:NVDU) experienced a significant decrease in short interest during December. By December 15th, the total short interest amounted to 209,100 shares, marking a substantial decline of 53.1% from the 445,400 shares reported on November 30th. With an average daily volume of 917,000 shares, the current days-to-cover ratio sits at 0.2 days.

Institutional Investors Adjust Positions

Recently, various institutional investors and hedge funds modified their stakes in Direxion Daily NVDA Bull 2X Shares. Beaird Harris Wealth Management LLC made an investment during the third quarter, acquiring shares valued at $557,000. Additionally, Flow Traders U.S. LLC purchased shares worth approximately $2,165,000 during the same quarter. Creative Planning acquired a stake valued at around $377,000, while AE Wealth Management LLC took a new position worth about $533,000 in the second quarter. Furthermore, Hollencrest Capital Management invested approximately $111,000 in shares of this ETF during the second quarter.

NVDU Price Performance Overview

During mid-day trading on a Friday, Direxion Daily NVDA Bull 2X Shares saw a decrease of $6.04, bringing its price down to $96.00. A total of 350,010 shares changed hands, in comparison to its average volume of 681,607 shares. Over the past year, the stock reached a low of $26.01 and a high of $146.87, with its 50-day moving average at $116.90 and 200-day moving average at $106.48.

Dividend Announcement

The company has recently declared a dividend set to be paid on Tuesday, December 31st. Shareholders who hold shares by Monday, December 23rd, will receive a dividend of $0.6505. The ex-dividend date is also scheduled for Monday, December 23rd.

About Direxion Daily NVDA Bull 2X Shares

The Direxion Daily NVDA Bull 2X Shares (NVDU) is an exchange-traded fund that primarily invests in equities within the information technology sector. This fund offers 2x leveraged exposure, excluding fees and expenses, to the daily price movement of NVIDIA shares. NVDU was launched on September 13, 2023, and is managed by Direxion.

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