Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) Trading Down 1.9% – Should You Sell?

Shares of Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) fell 1.9% on Thursday . The company traded as low as $40.98 and last traded at $41.41. 236,108 shares changed hands during trading, a decline of 82% from the average session volume of 1,310,211 shares. The stock had previously closed at $42.22.

Direxion Daily NVDA Bear 1X Shares Stock Down 3.8%

The company has a 50 day moving average of $39.12 and a 200-day moving average of $42.21.

Direxion Daily NVDA Bear 1X Shares Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd were given a dividend of $0.0361 per share. The ex-dividend date was Tuesday, September 23rd. This represents a $0.14 annualized dividend and a dividend yield of 0.4%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NVDD. PayPay Securities Corp lifted its stake in shares of Direxion Daily NVDA Bear 1X Shares by 85.4% in the 2nd quarter. PayPay Securities Corp now owns 11,886 shares of the company’s stock valued at $55,000 after acquiring an additional 5,476 shares during the last quarter. Flow Traders U.S. LLC acquired a new stake in shares of Direxion Daily NVDA Bear 1X Shares during the 2nd quarter worth approximately $165,000. StoneX Group Inc. grew its position in shares of Direxion Daily NVDA Bear 1X Shares by 340.4% during the 2nd quarter. StoneX Group Inc. now owns 45,204 shares of the company’s stock worth $211,000 after buying an additional 34,939 shares during the period. Jump Financial LLC acquired a new stake in Direxion Daily NVDA Bear 1X Shares in the first quarter worth $433,000. Finally, Wakefield Asset Management LLLP bought a new position in shares of Direxion Daily NVDA Bear 1X Shares during the 2nd quarter worth about $658,000.

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.