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

Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) saw a large increase in short interest in July. As of July 15th, there was short interest totaling 84,250 shares, an increase of 120.5% from the June 30th total of 38,201 shares. Based on an average daily trading volume, of 124,099 shares, the short-interest ratio is currently 0.7 days. Currently, 15.3% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PayPay Securities Corp grew its holdings in shares of Direxion Daily NVDA Bear 1X Shares by 25.6% during the fourth quarter. PayPay Securities Corp now owns 2,097 shares of the company’s stock worth $80,000 after buying an additional 427 shares in the last quarter. Optiver Holding B.V. lifted 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 worth $409,000 after buying an additional 6,165 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Direxion Daily NVDA Bear 1X Shares in the fourth quarter worth about $267,000. Renaissance Technologies LLC purchased a new position in shares of Direxion Daily NVDA Bear 1X Shares in the fourth quarter worth about $702,000. Finally, Tower Research Capital LLC TRC boosted its position in Direxion Daily NVDA Bear 1X Shares by 348.8% during the third quarter. Tower Research Capital LLC TRC now owns 23,978 shares of the company’s stock worth $939,000 after acquiring an additional 18,635 shares during the last quarter.

Direxion Daily NVDA Bear 1X Shares Stock Performance

Shares of NASDAQ NVDD traded up $1.12 during midday trading on Wednesday, hitting $35.54. The stock had a trading volume of 155,726 shares, compared to its average volume of 182,125. The stock has a 50 day simple moving average of $33.26 and a 200-day simple moving average of $35.90. Direxion Daily NVDA Bear 1X Shares has a 1 year low of $29.41 and a 1 year high of $45.00.

Direxion Daily NVDA Bear 1X Shares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were given a dividend of $0.2765 per share. This represents a $1.11 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Tuesday, June 23rd.

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.