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

Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) was the target of a large growth in short interest in the month of 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. Based on an average daily volume of 12,007,700 shares, the days-to-cover ratio is presently 0.0 days. Currently, 16.1% of the company’s shares are short sold.

Direxion Daily NVDA Bear 1X Shares Stock Up 1.7 %

Shares of NVDD traded up $0.12 during trading hours on Friday, reaching $7.23. 17,401,712 shares of the stock traded hands, compared to its average volume of 12,811,030. Direxion Daily NVDA Bear 1X Shares has a 52 week low of $5.65 and a 52 week high of $13.50. The stock has a fifty day simple moving average of $6.58 and a 200 day simple moving average of $6.57.

Direxion Daily NVDA Bear 1X Shares Cuts Dividend

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

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

Several institutional investors have recently bought and sold shares of the company. Flow Traders U.S. LLC bought a new stake in shares of Direxion Daily NVDA Bear 1X Shares in the third quarter valued at approximately $144,000. IMC Chicago LLC bought a new stake in Direxion Daily NVDA Bear 1X Shares during the 4th quarter valued at $643,000. PayPay Securities Corp purchased a new stake in shares of Direxion Daily NVDA Bear 1X Shares during the fourth quarter worth $65,000. Virtu Financial LLC purchased a new stake in shares of Direxion Daily NVDA Bear 1X Shares during the fourth quarter worth $852,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Direxion Daily NVDA Bear 1X Shares in the fourth quarter valued at $71,000.

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.