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

Direxion Daily NVDA Bear 1X ETF (NASDAQ:NVDD) was the target of a large increase in short interest in September. As of September 15th, there was short interest totaling 79,034 shares, an increase of 65.4% from the August 31st total of 47,784 shares. Based on an average daily trading volume, of 187,391 shares, the short-interest ratio is currently 0.4 days. Approximately 12.2% of the company’s shares are sold short.

Direxion Daily NVDA Bear 1X ETF Stock Performance

Direxion Daily NVDA Bear 1X ETF stock traded down $0.38 during mid-day trading on Wednesday, hitting $28.51. 110,131 shares of the company’s stock were exchanged, compared to its average volume of 182,565. The company’s 50 day simple moving average is $30.91 and its 200-day simple moving average is $33.44. Direxion Daily NVDA Bear 1X ETF has a fifty-two week low of $28.14 and a fifty-two week high of $42.78.

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

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

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.