Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) Trading Up 5.5% – Time to Buy?

Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD)’s stock price rose 5.5% during mid-day trading on Thursday . The stock traded as high as $38.48 and last traded at $38.39. Approximately 578,373 shares were traded during mid-day trading, an increase of 111% from the average daily volume of 274,670 shares. The stock had previously closed at $36.40.

Direxion Daily NVDA Bear 1X Shares Stock Performance

The stock has a 50 day simple moving average of $38.33 and a 200-day simple moving average of $39.46.

Direxion Daily NVDA Bear 1X Shares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 23rd were paid a dividend of $0.3378 per share. The ex-dividend date was Tuesday, December 23rd. This represents a $1.35 annualized dividend and a dividend yield of 3.4%. This is a boost from Direxion Daily NVDA Bear 1X Shares’s previous quarterly dividend of $0.04.

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

A number of institutional investors have recently bought and sold shares of NVDD. PayPay Securities Corp grew its holdings in Direxion Daily NVDA Bear 1X Shares by 25.6% during the fourth quarter. PayPay Securities Corp now owns 2,097 shares of the company’s stock valued at $80,000 after purchasing an additional 427 shares during the period. Flow Traders U.S. LLC bought a new position in shares of Direxion Daily NVDA Bear 1X Shares during the 2nd quarter valued at approximately $165,000. StoneX Group Inc. grew its stake in shares of Direxion Daily NVDA Bear 1X Shares by 340.4% during the 2nd quarter. StoneX Group Inc. now owns 45,204 shares of the company’s stock valued at $211,000 after acquiring an additional 34,939 shares during the period. Jump Financial LLC purchased a new stake in Direxion Daily NVDA Bear 1X Shares in the 4th quarter worth approximately $267,000. Finally, Wakefield Asset Management LLLP purchased a new stake in Direxion Daily NVDA Bear 1X Shares in the 2nd quarter worth approximately $658,000.

About Direxion Daily NVDA Bear 1X Shares

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.