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

Direxion Daily NVDA Bear 1X ETF (NASDAQ:NVDD) was the target of a large increase in short interest in September. As of September 15th, there was short interest totaling 79,034 shares, an increase of 65.4% from the August 31st total of 47,784 shares. Based on an average daily trading volume, of 187,391 shares, the days-to-cover ratio is currently 0.4 days. Currently, 12.2% of the shares of the stock are short sold.

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

A hedge fund recently bought a new stake in Direxion Daily NVDA Bear 1X ETF stock. Corient Private Wealth LP acquired a new stake in shares of Direxion Daily NVDA Bear 1X ETF (NASDAQ:NVDD) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,000 shares of the company’s stock, valued at approximately $850,000. Corient Private Wealth LP owned 4.17% of Direxion Daily NVDA Bear 1X ETF at the end of the most recent reporting period.

Direxion Daily NVDA Bear 1X ETF Price Performance

Shares of NASDAQ:NVDD traded down $0.34 during midday trading on Thursday, reaching $28.43. 222,141 shares of the company were exchanged, compared to its average volume of 183,419. The business’s fifty day moving average is $30.84 and its two-hundred day moving average is $33.37. Direxion Daily NVDA Bear 1X ETF has a one year low of $28.14 and a one year high of $42.78.

About Direxion Daily NVDA Bear 1X ETF

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.