Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) Short Interest Up 87.8% in March

Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) was the recipient of a large growth in short interest in March. As of March 15th, there was short interest totalling 590,000 shares, a growth of 87.8% from the February 28th total of 314,100 shares. Approximately 16.1% of the company’s shares are short sold. Based on an average daily volume of 12,007,700 shares, the short-interest ratio is presently 0.0 days.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. GTS Securities LLC grew its stake in Direxion Daily NVDA Bear 1X Shares by 1,389.3% in the fourth quarter. GTS Securities LLC now owns 198,692 shares of the company’s stock worth $1,286,000 after purchasing an additional 185,351 shares during the period. Jane Street Group LLC grew its position in shares of Direxion Daily NVDA Bear 1X Shares by 146.7% in the 4th quarter. Jane Street Group LLC now owns 157,045 shares of the company’s stock worth $1,016,000 after buying an additional 93,397 shares during the period. Optiver Holding B.V. bought a new position in shares of Direxion Daily NVDA Bear 1X Shares in the 4th quarter worth about $1,410,000. Long Island Wealth Management Inc. purchased a new position in Direxion Daily NVDA Bear 1X Shares during the 4th quarter valued at about $85,000. Finally, OneDigital Investment Advisors LLC bought a new stake in Direxion Daily NVDA Bear 1X Shares during the fourth quarter worth about $582,000.

Direxion Daily NVDA Bear 1X Shares Price Performance

Shares of NASDAQ NVDD traded up $0.12 during midday trading on Friday, hitting $7.23. 17,401,712 shares of the company traded hands, compared to its average volume of 12,811,030. Direxion Daily NVDA Bear 1X Shares has a 12-month low of $5.65 and a 12-month high of $13.50. The stock has a 50-day moving average price of $6.58 and a 200 day moving average price of $6.59.

Direxion Daily NVDA Bear 1X Shares Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th will be issued a dividend of $0.0499 per share. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.76%.

Direxion Daily NVDA Bear 1X Shares 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.