Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) Sees Significant Increase in Short Interest

Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 590,000 shares, a growth of 87.8% from the February 28th total of 314,100 shares. Approximately 16.1% of the company’s stock are sold short. Based on an average trading volume of 12,007,700 shares, the short-interest ratio is presently 0.0 days.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. PayPay Securities Corp bought a new stake in Direxion Daily NVDA Bear 1X Shares during the fourth quarter worth about $65,000. Renaissance Technologies LLC bought a new stake in shares of Direxion Daily NVDA Bear 1X Shares in the 4th quarter worth approximately $71,000. Long Island Wealth Management Inc. bought a new stake in shares of Direxion Daily NVDA Bear 1X Shares in the 4th quarter worth approximately $85,000. Flow Traders U.S. LLC purchased a new stake in shares of Direxion Daily NVDA Bear 1X Shares in the 3rd quarter worth approximately $144,000. Finally, OneDigital Investment Advisors LLC bought a new position in Direxion Daily NVDA Bear 1X Shares during the 4th quarter valued at approximately $582,000.

Direxion Daily NVDA Bear 1X Shares Trading Up 1.7 %

Shares of NASDAQ NVDD traded up $0.12 during mid-day trading on Friday, hitting $7.23. 17,401,712 shares of the stock traded hands, compared to its average volume of 12,811,030. The stock has a fifty day moving average price of $6.58 and a 200-day moving average price of $6.59. Direxion Daily NVDA Bear 1X Shares has a 52 week low of $5.65 and a 52 week high of $13.50.

Direxion Daily NVDA Bear 1X 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 issued a dividend of $0.0499 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Tuesday, March 25th.

Direxion Daily NVDA Bear 1X Shares Company Profile

The Direxion Daily NVDA Bear 1X Shares (NVDD) is an exchange-traded fund that mostly invests in information technology equity. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of NVIDIA stock. NVDD was launched on Sep 13, 2023 and is issued by Direxion.