Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) Short Interest Down 36.7% in July

Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) was the target of a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 53,323 shares, a drop of 36.7% from the July 15th total of 84,250 shares. Based on an average daily trading volume, of 178,016 shares, the short-interest ratio is presently 0.3 days. Approximately 8.9% of the company’s stock are short sold.

Direxion Daily NVDA Bear 1X Shares Stock Up 0.9%

Direxion Daily NVDA Bear 1X Shares stock opened at $30.98 on Thursday. Direxion Daily NVDA Bear 1X Shares has a fifty-two week low of $29.41 and a fifty-two week high of $45.00. The stock’s 50 day simple moving average is $32.90 and its two-hundred day simple moving average is $35.13.

Direxion Daily NVDA Bear 1X Shares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were paid a $0.2765 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Tuesday, June 23rd.

Institutional Investors Weigh In On Direxion Daily NVDA Bear 1X Shares

Several hedge funds have recently made changes to their positions in NVDD. Optiver Holding B.V. raised its holdings in 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 purchasing an additional 6,165 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Direxion Daily NVDA Bear 1X Shares during the 4th quarter valued at $267,000. Renaissance Technologies LLC bought a new stake in shares of Direxion Daily NVDA Bear 1X Shares during the 4th quarter valued at $702,000. Tower Research Capital LLC TRC grew its position in shares of Direxion Daily NVDA Bear 1X Shares by 348.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 23,978 shares of the company’s stock worth $939,000 after buying an additional 18,635 shares during the period. Finally, StoneX Group Inc. grew its position in shares of Direxion Daily NVDA Bear 1X Shares by 340.4% in 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.

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.