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 significant increase in short interest in the month of 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 trading volume of 187,391 shares, the short-interest ratio is currently 0.4 days. Approximately 12.2% of the company’s stock are sold short.

Direxion Daily NVDA Bear 1X ETF Trading Down 1.3%

NVDD traded down $0.38 during trading on Wednesday, hitting $28.51. The company had a trading volume of 110,131 shares, compared to its average volume of 182,565. Direxion Daily NVDA Bear 1X ETF has a one year low of $28.14 and a one year high of $42.78. The firm’s 50-day moving average price is $30.91 and its 200 day moving average price is $33.44.

Institutional Trading of Direxion Daily NVDA Bear 1X ETF

A hedge fund 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 its most recent disclosure 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 4.17% of Direxion Daily NVDA Bear 1X ETF at the end of the most recent reporting period.

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.