Direxion Daily NVDA Bear 1X ETF (NASDAQ:NVDD) Sees Large Decrease in Short Interest

Direxion Daily NVDA Bear 1X ETF (NASDAQ:NVDD) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 47,784 shares, a drop of 43.9% from the August 15th total of 85,116 shares. Currently, 8.0% of the shares of the stock are sold short. Based on an average daily volume of 208,364 shares, the short-interest ratio is currently 0.2 days.

Direxion Daily NVDA Bear 1X ETF Trading Up 3.3%

Shares of NVDD stock opened at $31.64 on Tuesday. Direxion Daily NVDA Bear 1X ETF has a 1 year low of $28.46 and a 1 year high of $43.80. The firm’s 50 day moving average is $31.66 and its 200-day moving average is $34.14.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Direxion Daily NVDA Bear 1X ETF stock. Corient Private Wealth LP acquired a new position in shares of Direxion Daily NVDA Bear 1X ETF (NASDAQ:NVDD) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,000 shares of the company’s stock, valued at approximately $850,000. Corient Private Wealth LP owned approximately 4.17% of Direxion Daily NVDA Bear 1X ETF as of its most recent SEC filing.

About Direxion Daily NVDA Bear 1X ETF

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.