Short Interest in Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) Rises By 59.6%

Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) was the recipient of a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 85,116 shares, a growth of 59.6% from the July 30th total of 53,323 shares. Currently, 14.2% of the company’s stock are short sold. Based on an average daily volume of 142,888 shares, the days-to-cover ratio is currently 0.6 days.

Direxion Daily NVDA Bear 1X Shares Stock Down 4.1%

NVDD traded down $1.27 during trading hours on Wednesday, reaching $29.47. The company’s stock had a trading volume of 128,500 shares, compared to its average volume of 181,288. Direxion Daily NVDA Bear 1X Shares has a 52 week low of $29.00 and a 52 week high of $45.00. The company’s 50-day moving average is $32.53 and its 200-day moving average is $34.64.

Direxion Daily NVDA Bear 1X Shares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were issued a $0.2765 dividend. This represents a $1.11 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Tuesday, June 23rd.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Jane Street Group LLC grew its holdings in shares of Direxion Daily NVDA Bear 1X Shares by 211.2% during the second quarter. Jane Street Group LLC now owns 161,655 shares of the company’s stock worth $753,000 after purchasing an additional 109,712 shares during the last quarter. Optiver Holding B.V. increased its stake in shares of Direxion Daily NVDA Bear 1X Shares by 154.1% in the first quarter. Optiver Holding B.V. now owns 10,166 shares of the company’s stock valued at $409,000 after buying an additional 6,165 shares during the period. Corient Private Wealth LP bought a new stake in shares of Direxion Daily NVDA Bear 1X Shares in the 2nd quarter valued at $850,000. StoneX Group Inc. boosted 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 valued at $211,000 after purchasing an additional 34,939 shares in the last quarter. Finally, Virtu Financial LLC lifted its position in shares of Direxion Daily NVDA Bear 1X Shares by 95.0% during the 3rd quarter. Virtu Financial LLC now owns 79,599 shares of the company’s stock valued at $3,117,000 after acquiring an additional 38,777 shares during the period.

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.