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

Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) was the recipient of a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 38,201 shares, a decline of 55.2% from the June 15th total of 85,346 shares. Based on an average trading volume of 120,085 shares, the days-to-cover ratio is currently 0.3 days. Currently, 6.9% of the shares of the company are short sold.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. Optiver Holding B.V. boosted its stake in shares of 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 buying an additional 6,165 shares during the last quarter. IHT Wealth Management LLC bought a new position in Direxion Daily NVDA Bear 1X Shares in the fourth quarter valued at about $2,098,000. Jump Financial LLC bought a new position in Direxion Daily NVDA Bear 1X Shares in the fourth quarter valued at about $267,000. Renaissance Technologies LLC purchased a new position in Direxion Daily NVDA Bear 1X Shares in the fourth quarter worth about $702,000. Finally, IMC Chicago LLC purchased a new position in Direxion Daily NVDA Bear 1X Shares in the fourth quarter worth about $4,786,000.

Direxion Daily NVDA Bear 1X Shares Stock Up 2.4%

Shares of NVDD traded up $0.76 during mid-day trading on Thursday, hitting $32.71. 59,327 shares of the company traded hands, compared to its average volume of 182,146. The stock has a 50-day moving average price of $32.85 and a two-hundred day moving average price of $36.23. Direxion Daily NVDA Bear 1X Shares has a 1 year low of $29.41 and a 1 year high of $45.00.

Direxion Daily NVDA Bear 1X Shares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders 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 yield of 3.4%.

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.