Direxion Daily NVDA Bear 1X ETF (NASDAQ:NVDD) Share Price Breaks Above 200-Day Moving Average – What’s Next?

Direxion Daily NVDA Bear 1X ETF (NASDAQ:NVDD)’s stock price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $33.88 and traded as high as $35.80. Direxion Daily NVDA Bear 1X ETF shares last traded at $35.78, with a volume of 531,669 shares traded.

Direxion Daily NVDA Bear 1X ETF Stock Down 2.8%

The firm’s 50-day moving average is $30.11 and its 200 day moving average is $33.85.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PayPay Securities Corp grew its position in shares of Direxion Daily NVDA Bear 1X ETF by 24.6% in the third quarter. PayPay Securities Corp now owns 2,201 shares of the company’s stock valued at $63,000 after purchasing an additional 435 shares during the last quarter. Corient Private Wealth LP acquired a new position in shares of Direxion Daily NVDA Bear 1X ETF during the 2nd quarter worth approximately $850,000. Finally, Optiver Holding B.V. raised its position in shares of Direxion Daily NVDA Bear 1X ETF by 154.1% during the 1st 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 during the last quarter.

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.