The short interest in the Direxion Daily NVDA Bull 2X Shares (NASDAQ: NVDU) experienced a notable increase of **29.6%** during December 2023. As of **December 15**, the total short interest reached **782,238 shares**, compared to **603,779 shares** on **November 30**. This rise indicates that approximately **16.4%** of the stock is currently short sold, reflecting heightened market activity and investor sentiment.
The short-interest ratio stands at **1.3 days**, calculated based on an average daily trading volume of **616,358 shares**. This figure suggests that, under current trading conditions, it would take just over a day for all shorted shares to be covered.
Current Stock Performance
On the trading front, shares of NVDU opened at **$119.14** on Wednesday. Over the past year, the stock has experienced significant volatility, with a low of **$32.63** and a high of **$165.77**. The company’s market capitalization is approximately **$569.49 million**, with a price-to-earnings (P/E) ratio of **42.98**, and it has a beta of **4.20**, indicating a higher level of risk compared to the broader market.
The **50-day simple moving average** for NVDU is **$124.59**, while the **200-day simple moving average** is **$119.00**. These averages provide insight into the stock’s performance trends over both short and long-term periods.
Dividend Announcement
In addition to the trading updates, Direxion Daily NVDA Bull 2X Shares has announced a quarterly dividend, set to be paid on **December 31**. Shareholders on record as of **December 23** will receive a dividend of **$0.7196** per share. This equates to an annualized dividend of **$2.88** and a dividend yield of **2.4%**. The ex-dividend date is also scheduled for **December 23**.
Institutional Activity
Recent financial activities among institutional investors indicate growing interest in NVDU. Several hedge funds have either increased or initiated positions in this exchange-traded fund. For instance, **Bogart Wealth LLC** acquired a new stake valued at approximately **$40,000** during the second quarter, while **Halbert Hargrove Global Advisors LLC** invested around **$42,000** in the third quarter.
**SOA Wealth Advisors LLC** also purchased shares in the second quarter, valued at about **$44,000**. Notably, **Western Pacific Wealth Management LP** increased its stake by **103.3%**, now holding **1,000 shares** valued at roughly **$99,000** after acquiring an additional **508 shares**. Additionally, **Group One Trading LLC** opened a position worth approximately **$175,000** in the third quarter.
The Direxion Daily NVDA Bull 2X Shares is designed to provide investors with twice the daily leverage of NVIDIA’s stock price movements, allowing for amplified exposure to the technology sector. Launched on **September 13, 2023**, this fund has quickly drawn attention from investors keen on capitalizing on the performance of NVIDIA equity.
