Direxion Daily NVDA Bear 1X ETF (NASDAQ:NVDD) Shares Shorted: Short Interest Down 72.4% in October

Direxion Daily NVDA Bear 1X ETF (NASDAQ:NVDD) was the recipient of a significant decline in short interest during the month of October. As of October 30th, there was short interest totaling 13,824 shares, a decline of 72.4% from the October 15th total of 50,014 shares. Currently, 2.3% of the shares of the company are short sold. Based on an average trading volume of 195,959 shares, the days-to-cover ratio is currently 0.1 days.

Direxion Daily NVDA Bear 1X ETF Trading Up 2.2%

Shares of NVDD stock traded up $0.85 during trading hours on Friday, hitting $39.66. 318,704 shares of the company were exchanged, compared to its average volume of 200,010. The firm has a fifty day simple moving average of $30.69 and a 200 day simple moving average of $33.83. Direxion Daily NVDA Bear 1X ETF has a 52-week low of $27.01 and a 52-week high of $42.78.

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

Several institutional investors and hedge funds have recently bought and sold shares of the company. Corient Private Wealth LP bought a new stake in Direxion Daily NVDA Bear 1X ETF in the 2nd quarter valued at about $850,000. Optiver Holding B.V. increased its stake in shares of Direxion Daily NVDA Bear 1X ETF by 154.1% in the first quarter. Optiver Holding B.V. now owns 10,166 shares of the company’s stock worth $409,000 after purchasing an additional 6,165 shares in the last quarter. Finally, PayPay Securities Corp raised its position in shares of Direxion Daily NVDA Bear 1X ETF by 24.6% in the third quarter. PayPay Securities Corp now owns 2,201 shares of the company’s stock valued at $63,000 after purchasing an additional 435 shares during the period.

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.