Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) Trading 5.5% Higher – Here’s Why

Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) traded up 5.5% on Thursday . The stock traded as high as $38.48 and last traded at $38.39. 578,373 shares traded hands during mid-day trading, an increase of 111% from the average session volume of 274,670 shares. The stock had previously closed at $36.40.

Direxion Daily NVDA Bear 1X Shares Trading Up 5.5%

The business has a 50-day moving average price of $38.33 and a two-hundred day moving average price of $39.46.

Direxion Daily NVDA Bear 1X Shares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 23rd were given a dividend of $0.3378 per share. This is a positive change from Direxion Daily NVDA Bear 1X Shares’s previous quarterly dividend of $0.04. This represents a $1.35 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Tuesday, December 23rd.

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

Several hedge funds and other institutional investors have recently made changes to their positions in NVDD. PayPay Securities Corp lifted its holdings in shares of Direxion Daily NVDA Bear 1X Shares by 25.6% during the 4th quarter. PayPay Securities Corp now owns 2,097 shares of the company’s stock worth $80,000 after acquiring an additional 427 shares during the period. Flow Traders U.S. LLC acquired a new position in Direxion Daily NVDA Bear 1X Shares during the second quarter valued at approximately $165,000. StoneX Group Inc. lifted its stake in Direxion Daily NVDA Bear 1X Shares by 340.4% during the second quarter. StoneX Group Inc. now owns 45,204 shares of the company’s stock worth $211,000 after purchasing an additional 34,939 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Direxion Daily NVDA Bear 1X Shares in the 4th quarter valued at $267,000. Finally, Wakefield Asset Management LLLP acquired a new stake in shares of Direxion Daily NVDA Bear 1X Shares in the 2nd quarter valued at $658,000.

About Direxion Daily NVDA Bear 1X Shares

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.