Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) Stock Price Up 2% – Here’s Why

Shares of Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) traded up 2% during mid-day trading on Friday . The stock traded as high as $32.33 and last traded at $32.27. 139,114 shares were traded during mid-day trading, a decline of 31% from the average session volume of 201,385 shares. The stock had previously closed at $31.63.

Direxion Daily NVDA Bear 1X Shares Stock Performance

The firm’s 50-day simple moving average is $36.10 and its 200 day simple moving average is $37.82.

Direxion Daily NVDA Bear 1X Shares Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were given a $0.2581 dividend. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $1.03 dividend on an annualized basis and a dividend yield of 3.2%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NVDD. Flow Traders U.S. LLC bought a new position in Direxion Daily NVDA Bear 1X Shares in the second quarter valued at approximately $165,000. StoneX Group Inc. increased its position 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 worth $211,000 after purchasing an additional 34,939 shares during the last quarter. Jump Financial LLC raised its stake in shares of Direxion Daily NVDA Bear 1X Shares by 347.2% during the 2nd quarter. Jump Financial LLC now owns 265,880 shares of the company’s stock worth $1,239,000 after purchasing an additional 206,421 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of Direxion Daily NVDA Bear 1X Shares by 211.2% in the 2nd quarter. Jane Street Group LLC now owns 161,655 shares of the company’s stock valued at $753,000 after buying an additional 109,712 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of Direxion Daily NVDA Bear 1X Shares in the 2nd quarter valued at approximately $976,000.

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.