Direxion Daily NVDA Bear 1X ETF (NASDAQ:NVDD) Shares Cross Above 200-Day Moving Average – Should You Sell?

Direxion Daily NVDA Bear 1X ETF (NASDAQ:NVDD)’s stock price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $33.88 and traded as high as $35.80. Direxion Daily NVDA Bear 1X ETF shares last traded at $35.78, with a volume of 531,669 shares trading hands.

Direxion Daily NVDA Bear 1X ETF Stock Up 9.4%

The company’s fifty day moving average is $30.00 and its two-hundred day moving average is $33.88.

Institutional Investors Weigh In On Direxion Daily NVDA Bear 1X ETF

A number of large investors have recently modified their holdings of NVDD. PayPay Securities Corp grew its stake in shares of Direxion Daily NVDA Bear 1X ETF by 24.6% during the third quarter. PayPay Securities Corp now owns 2,201 shares of the company’s stock worth $63,000 after purchasing an additional 435 shares in the last quarter. Optiver Holding B.V. increased its holdings in Direxion Daily NVDA Bear 1X ETF by 154.1% in the first quarter. Optiver Holding B.V. now owns 10,166 shares of the company’s stock valued at $409,000 after buying an additional 6,165 shares during the last quarter. Finally, Corient Private Wealth LP purchased a new position in Direxion Daily NVDA Bear 1X ETF in the second quarter valued at $850,000.

Direxion Daily NVDA Bear 1X ETF 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.