Direxion Daily NVDA Bear 1X ETF (NASDAQ:NVDD) Sees Large Decrease in Short Interest

Direxion Daily NVDA Bear 1X ETF (NASDAQ:NVDD) was the recipient of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 50,014 shares, a decline of 81.2% from the September 30th total of 266,272 shares. Approximately 8.3% of the shares of the company are short sold. Based on an average daily trading volume, of 227,812 shares, the days-to-cover ratio is currently 0.2 days.

Direxion Daily NVDA Bear 1X ETF Price Performance

NASDAQ NVDD opened at $30.40 on Tuesday. Direxion Daily NVDA Bear 1X ETF has a twelve month low of $27.01 and a twelve month high of $42.78. The company’s 50-day simple moving average is $29.88 and its 200 day simple moving average is $34.18.

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

A hedge fund recently bought a new stake in Direxion Daily NVDA Bear 1X ETF stock. Corient Private Wealth LP bought a new position in shares of Direxion Daily NVDA Bear 1X ETF (NASDAQ:NVDD) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 25,000 shares of the company’s stock, valued at approximately $850,000. Corient Private Wealth LP owned 4.17% of Direxion Daily NVDA Bear 1X ETF at the end of the most recent reporting period.

About Direxion Daily NVDA Bear 1X ETF

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.