Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) Shares Down 3.5% – Here’s What Happened

Shares of Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) fell 3.5% during trading on Monday . The company traded as low as $32.36 and last traded at $32.36. 142,555 shares traded hands during mid-day trading, a decline of 26% from the average session volume of 193,428 shares. The stock had previously closed at $33.55.

Direxion Daily NVDA Bear 1X Shares Trading Down 3.5%

The company’s fifty day moving average is $33.72 and its 200 day moving average is $37.17.

Direxion Daily NVDA Bear 1X Shares Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were given a dividend of $0.2581 per share. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $1.03 annualized dividend and a yield of 3.2%.

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

Several hedge funds have recently modified their holdings of NVDD. Advisory Services Network LLC bought a new position in shares of Direxion Daily NVDA Bear 1X Shares in the 2nd quarter valued at about $976,000. Jump Financial LLC raised its holdings in Direxion Daily NVDA Bear 1X Shares by 347.2% during the second quarter. Jump Financial LLC now owns 265,880 shares of the company’s stock worth $1,239,000 after acquiring an additional 206,421 shares in the last quarter. IMC Chicago LLC acquired a new position in Direxion Daily NVDA Bear 1X Shares during the fourth quarter valued at approximately $4,786,000. Jane Street Group LLC increased its position in shares of Direxion Daily NVDA Bear 1X Shares by 211.2% during the 2nd quarter. Jane Street Group LLC now owns 161,655 shares of the company’s stock worth $753,000 after purchasing an additional 109,712 shares during the last quarter. Finally, IHT Wealth Management LLC acquired a new position in shares of Direxion Daily NVDA Bear 1X Shares during the 4th quarter worth approximately $2,098,000.

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.