Short Interest in Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) Increases By 120.5%

Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 84,250 shares, an increase of 120.5% from the June 30th total of 38,201 shares. Based on an average trading volume of 124,099 shares, the days-to-cover ratio is presently 0.7 days. Approximately 15.3% of the company’s stock are sold short.

Hedge Funds Weigh In On Direxion Daily NVDA Bear 1X Shares

Several institutional investors have recently bought and sold shares of NVDD. Flow Traders U.S. LLC purchased a new stake in Direxion Daily NVDA Bear 1X Shares during the second quarter worth $165,000. StoneX Group Inc. raised its position in shares of Direxion Daily NVDA Bear 1X Shares by 340.4% in the 2nd quarter. StoneX Group Inc. now owns 45,204 shares of the company’s stock worth $211,000 after acquiring an additional 34,939 shares in the last quarter. Jump Financial LLC raised its position in shares of Direxion Daily NVDA Bear 1X Shares by 347.2% in the 2nd quarter. Jump Financial LLC now owns 265,880 shares of the company’s stock worth $1,239,000 after acquiring an additional 206,421 shares in the last quarter. Jane Street Group LLC lifted its stake 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 worth $753,000 after purchasing an additional 109,712 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new stake in shares of Direxion Daily NVDA Bear 1X Shares during the 2nd quarter worth $976,000.

Direxion Daily NVDA Bear 1X Shares Stock Down 1.3%

Direxion Daily NVDA Bear 1X Shares stock traded down $0.47 during midday trading on Thursday, hitting $35.07. 56,609 shares of the company’s stock were exchanged, compared to its average volume of 181,218. The firm has a 50-day moving average of $33.26 and a two-hundred day moving average of $35.90. Direxion Daily NVDA Bear 1X Shares has a 12 month low of $29.41 and a 12 month high of $45.00.

Direxion Daily NVDA Bear 1X Shares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were paid a dividend of $0.2765 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.2%.

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.