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

Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) saw a significant decline in short interest in December. As of December 15th, there was short interest totalling 321,600 shares, a decline of 19.4% from the November 30th total of 398,900 shares. Based on an average daily volume of 5,202,800 shares, the days-to-cover ratio is presently 0.1 days.

Direxion Daily NVDA Bear 1X Shares Stock Performance

Shares of NASDAQ:NVDD traded up $0.16 during midday trading on Tuesday, reaching $6.47. 8,923,301 shares of the company traded hands, compared to its average volume of 2,230,271. The firm’s fifty day moving average price is $6.31 and its two-hundred day moving average price is $7.21. Direxion Daily NVDA Bear 1X Shares has a 12 month low of $5.75 and a 12 month high of $23.17.

Direxion Daily NVDA Bear 1X Shares Announces Dividend

The business also recently declared a dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be given a dividend of $0.0793 per share. The ex-dividend date of this dividend is Monday, December 23rd.

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

Large investors have recently modified their holdings of the company. Silver Lake Advisory LLC bought a new stake in Direxion Daily NVDA Bear 1X Shares during the 2nd quarter worth approximately $81,000. Flow Traders U.S. LLC bought a new position in Direxion Daily NVDA Bear 1X Shares in the 3rd quarter valued at $144,000. Weil Company Inc. purchased a new position in shares of Direxion Daily NVDA Bear 1X Shares during the 2nd quarter valued at $186,000. Finally, Sterling Investment Advisors Ltd. bought a new position in shares of Direxion Daily NVDA Bear 1X Shares in the third quarter worth $245,000.

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.