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

Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 590,000 shares, a growth of 87.8% from the February 28th total of 314,100 shares. Currently, 16.1% of the shares of the stock are sold short. Based on an average daily volume of 12,007,700 shares, the days-to-cover ratio is currently 0.0 days.

Direxion Daily NVDA Bear 1X Shares Stock Up 1.7 %

Shares of NVDD stock traded up $0.12 during trading on Friday, hitting $7.23. The company had a trading volume of 17,401,712 shares, compared to its average volume of 12,811,030. The stock’s 50-day moving average is $6.58 and its two-hundred day moving average is $6.57. Direxion Daily NVDA Bear 1X Shares has a 52 week low of $5.65 and a 52 week high of $13.50.

Direxion Daily NVDA Bear 1X Shares Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th will be issued a $0.0499 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Tuesday, March 25th.

Institutional Trading of Direxion Daily NVDA Bear 1X Shares

Institutional investors and hedge funds have recently made changes to their positions in the stock. IMC Chicago LLC bought a new position in Direxion Daily NVDA Bear 1X Shares in the fourth quarter valued at $643,000. PayPay Securities Corp bought a new position in shares of Direxion Daily NVDA Bear 1X Shares during the 4th quarter valued at about $65,000. Virtu Financial LLC purchased a new position in shares of Direxion Daily NVDA Bear 1X Shares during the 4th quarter valued at about $852,000. Flow Traders U.S. LLC bought a new stake in Direxion Daily NVDA Bear 1X Shares in the 3rd quarter worth approximately $144,000. Finally, GTS Securities LLC increased its stake in shares of Direxion Daily NVDA Bear 1X Shares by 1,389.3% in the 4th quarter. GTS Securities LLC now owns 198,692 shares of the company’s stock worth $1,286,000 after acquiring an additional 185,351 shares in the last quarter.

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.