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

Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) was the target of a significant drop in short interest in June. As of June 30th, there was short interest totaling 38,201 shares, a drop of 55.2% from the June 15th total of 85,346 shares. Approximately 6.9% of the company’s stock are sold short. Based on an average trading volume of 120,085 shares, the days-to-cover ratio is currently 0.3 days.

Direxion Daily NVDA Bear 1X Shares Price Performance

Shares of NVDD stock traded down $1.24 during trading hours on Tuesday, reaching $32.15. 77,804 shares of the company’s stock were exchanged, compared to its average volume of 183,113. Direxion Daily NVDA Bear 1X Shares has a 1 year low of $29.41 and a 1 year high of $45.00. The stock’s fifty day moving average price is $32.96 and its two-hundred day moving average price is $36.31.

Direxion Daily NVDA Bear 1X Shares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were paid a $0.2765 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $1.11 dividend on an annualized basis and a yield of 3.4%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. PayPay Securities Corp raised its holdings in shares of Direxion Daily NVDA Bear 1X Shares by 25.6% in the fourth quarter. PayPay Securities Corp now owns 2,097 shares of the company’s stock worth $80,000 after buying an additional 427 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Direxion Daily NVDA Bear 1X Shares in the 4th quarter valued at $267,000. Optiver Holding B.V. raised its stake in Direxion Daily NVDA Bear 1X Shares by 154.1% in the 1st quarter. Optiver Holding B.V. now owns 10,166 shares of the company’s stock worth $409,000 after acquiring an additional 6,165 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Direxion Daily NVDA Bear 1X Shares in the 4th quarter worth $702,000. Finally, Tower Research Capital LLC TRC raised its stake in Direxion Daily NVDA Bear 1X Shares by 348.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 23,978 shares of the company’s stock worth $939,000 after acquiring an additional 18,635 shares during the last quarter.

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.