Short Interest in Direxion Daily NVDA Bear 1X ETF (NASDAQ:NVDD) Decreases By 43.9%

Direxion Daily NVDA Bear 1X ETF (NASDAQ:NVDD) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totaling 47,784 shares, a decline of 43.9% from the August 15th total of 85,116 shares. Based on an average trading volume of 208,364 shares, the days-to-cover ratio is presently 0.2 days. Currently, 8.0% of the company’s stock are short sold.

Direxion Daily NVDA Bear 1X ETF Price Performance

Shares of NASDAQ:NVDD traded down $0.81 on Thursday, hitting $30.41. 100,733 shares of the company traded hands, compared to its average volume of 182,521. Direxion Daily NVDA Bear 1X ETF has a 52 week low of $28.46 and a 52 week high of $42.78. The stock has a 50 day simple moving average of $31.55 and a 200-day simple moving average of $34.05.

Institutional Trading of Direxion Daily NVDA Bear 1X ETF

An institutional investor recently bought a new stake in Direxion Daily NVDA Bear 1X ETF stock. Corient Private Wealth LP bought a new position in Direxion Daily NVDA Bear 1X ETF (NASDAQ:NVDD) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 25,000 shares of the company’s stock, valued at approximately $850,000. Corient Private Wealth LP owned about 4.17% of Direxion Daily NVDA Bear 1X ETF as of its most recent filing with the Securities & Exchange Commission.

Direxion Daily NVDA Bear 1X ETF Company Profile

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.