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

Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) saw a large decrease in short interest in July. As of July 31st, there was short interest totaling 53,323 shares, a decrease of 36.7% from the July 15th total of 84,250 shares. Based on an average daily trading volume, of 178,016 shares, the days-to-cover ratio is currently 0.3 days. Currently, 8.9% 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 NVDD. Optiver Holding B.V. lifted its holdings in shares of Direxion Daily NVDA Bear 1X Shares by 154.1% during the first quarter. Optiver Holding B.V. now owns 10,166 shares of the company’s stock valued at $409,000 after acquiring an additional 6,165 shares during the period. Jump Financial LLC acquired a new stake in shares of Direxion Daily NVDA Bear 1X Shares in the 4th quarter valued at $267,000. Renaissance Technologies LLC acquired a new stake in shares of Direxion Daily NVDA Bear 1X Shares in the 4th quarter valued at $702,000. Tower Research Capital LLC TRC grew its holdings 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 purchasing an additional 18,635 shares during the last quarter. Finally, StoneX Group Inc. grew its holdings 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 purchasing an additional 34,939 shares during the last quarter.

Direxion Daily NVDA Bear 1X Shares Price Performance

Shares of NASDAQ:NVDD traded up $0.11 during midday trading on Wednesday, reaching $30.82. 92,237 shares of the company’s stock were exchanged, compared to its average volume of 178,960. The company’s 50 day simple moving average is $32.97 and its two-hundred day simple moving average is $35.18. Direxion Daily NVDA Bear 1X Shares has a 12 month low of $29.41 and a 12 month high of $45.00.

Direxion Daily NVDA Bear 1X Shares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were given a $0.2765 dividend. This represents a $1.11 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend 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.