Short Interest in Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) Rises By 59.6%

Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) was the recipient of a large increase in short interest during the month of August. As of August 14th, there was short interest totaling 85,116 shares, an increase of 59.6% from the July 30th total of 53,323 shares. Currently, 14.2% of the company’s shares are sold short. Based on an average trading volume of 142,888 shares, the days-to-cover ratio is currently 0.6 days.

Direxion Daily NVDA Bear 1X Shares Price Performance

Shares of NVDD stock traded up $0.50 on Tuesday, hitting $30.74. 93,688 shares of the company’s stock traded hands, compared to its average volume of 181,931. The company’s fifty day simple moving average is $32.53 and its 200 day simple moving average is $34.64. Direxion Daily NVDA Bear 1X Shares has a one year low of $29.00 and a one year high of $45.00.

Direxion Daily NVDA Bear 1X Shares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were given a $0.2765 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $1.11 annualized dividend and a yield of 3.6%.

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

Institutional investors and hedge funds have recently bought and sold shares of the business. Optiver Holding B.V. raised its holdings 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 purchasing an additional 6,165 shares in the last quarter. Jump Financial LLC purchased a new position in Direxion Daily NVDA Bear 1X Shares in the fourth quarter worth about $267,000. Renaissance Technologies LLC purchased a new stake in Direxion Daily NVDA Bear 1X Shares during the 4th quarter valued at $702,000. Tower Research Capital LLC TRC boosted its position in shares of Direxion Daily NVDA Bear 1X Shares by 348.8% during the third quarter. Tower Research Capital LLC TRC now owns 23,978 shares of the company’s stock valued at $939,000 after buying an additional 18,635 shares during the last quarter. Finally, Corient Private Wealth LP bought a new stake in shares of Direxion Daily NVDA Bear 1X Shares in the second quarter worth approximately $850,000.

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.