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

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

Direxion Daily NVDA Bear 1X Shares Stock Up 1.7 %

Shares of NVDD traded up $0.12 during midday trading on Friday, hitting $7.23. 17,401,712 shares of the company traded hands, compared to its average volume of 12,811,030. The firm has a 50 day moving average of $6.58 and a 200-day moving average of $6.59. 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th will be given a $0.0499 dividend. The ex-dividend date is Tuesday, March 25th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.76%.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GTS Securities LLC grew its holdings in shares of Direxion Daily NVDA Bear 1X Shares by 1,389.3% in the fourth quarter. GTS Securities LLC now owns 198,692 shares of the company’s stock valued at $1,286,000 after purchasing an additional 185,351 shares in the last quarter. Jane Street Group LLC lifted its position in Direxion Daily NVDA Bear 1X Shares by 146.7% during the fourth quarter. Jane Street Group LLC now owns 157,045 shares of the company’s stock valued at $1,016,000 after purchasing an additional 93,397 shares during the last quarter. Optiver Holding B.V. purchased a new position in shares of Direxion Daily NVDA Bear 1X Shares in the 4th quarter worth $1,410,000. Long Island Wealth Management Inc. purchased a new position in shares of Direxion Daily NVDA Bear 1X Shares in the 4th quarter worth $85,000. Finally, OneDigital Investment Advisors LLC bought a new stake in shares of Direxion Daily NVDA Bear 1X Shares in the 4th quarter worth about $582,000.

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.