Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) Trading 4.4% Higher – Here’s Why

Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) were up 4.4% on Tuesday . The stock traded as high as $40.51 and last traded at $40.45. Approximately 735,782 shares were traded during trading, a decline of 50% from the average daily volume of 1,486,102 shares. The stock had previously closed at $38.74.

Direxion Daily NVDA Bear 1X Shares Stock Up 4.4%

The stock has a fifty day moving average price of $41.02 and a 200-day moving average price of $51.10.

Direxion Daily NVDA Bear 1X Shares Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd were given a dividend of $0.0361 per share. The ex-dividend date was Tuesday, September 23rd. This represents a $0.14 dividend on an annualized basis and a yield of 0.4%.

Institutional Trading of Direxion Daily NVDA Bear 1X Shares

A number of hedge funds have recently made changes to their positions in the stock. Jump Financial LLC boosted its holdings in shares of Direxion Daily NVDA Bear 1X Shares by 347.2% during the second quarter. Jump Financial LLC now owns 265,880 shares of the company’s stock worth $1,239,000 after purchasing an additional 206,421 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Direxion Daily NVDA Bear 1X Shares during the 2nd quarter valued at $976,000. Jane Street Group LLC grew its holdings in shares of Direxion Daily NVDA Bear 1X Shares by 211.2% during the 2nd quarter. Jane Street Group LLC now owns 161,655 shares of the company’s stock valued at $753,000 after acquiring an additional 109,712 shares in the last quarter. Wakefield Asset Management LLLP acquired a new position in shares of Direxion Daily NVDA Bear 1X Shares in the second quarter worth $658,000. Finally, CWA Asset Management Group LLC acquired a new position in shares of Direxion Daily NVDA Bear 1X Shares in the first quarter worth $457,000.

About Direxion Daily NVDA Bear 1X Shares

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.