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

Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) was the recipient of a significant increase in short interest in 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 company’s stock are sold short. Based on an average daily trading volume, of 12,007,700 shares, the short-interest ratio is currently 0.0 days.

Direxion Daily NVDA Bear 1X Shares Price Performance

Shares of NVDD traded up $0.12 on Friday, hitting $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 one year low of $5.65 and a one year high of $13.50. The business has a 50 day simple moving average of $6.58 and a 200 day simple moving average of $6.59.

Direxion Daily NVDA Bear 1X Shares Cuts Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Optiver Holding B.V. bought a new stake in Direxion Daily NVDA Bear 1X Shares in the 4th quarter worth about $1,410,000. Advisory Services Network LLC purchased a new stake in shares of Direxion Daily NVDA Bear 1X Shares during the 4th quarter valued at about $1,337,000. GTS Securities LLC grew its stake 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 worth $1,286,000 after acquiring an additional 185,351 shares during the period. 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 period. Finally, Virtu Financial LLC purchased a new stake in Direxion Daily NVDA Bear 1X Shares in the fourth quarter worth approximately $852,000.

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.