Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) Stock Price Up 3.2% – Time to Buy?

Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD)’s stock price rose 3.2% on Friday . The stock traded as high as $41.20 and last traded at $40.99. Approximately 103,045 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 245,237 shares. The stock had previously closed at $39.70.

Direxion Daily NVDA Bear 1X Shares Stock Up 3.2%

The business’s fifty day moving average is $38.61 and its 200-day moving average is $39.24.

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 3.3%. This is a boost from Direxion Daily NVDA Bear 1X Shares’s previous quarterly dividend of $0.04.

Institutional Investors Weigh In On Direxion Daily NVDA Bear 1X Shares

Hedge funds and other institutional investors have recently modified their holdings of the stock. PayPay Securities Corp lifted its position 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 in the last quarter. Flow Traders U.S. LLC bought a new stake in Direxion Daily NVDA Bear 1X Shares during the second quarter valued at about $165,000. StoneX Group Inc. increased its position in Direxion Daily NVDA Bear 1X Shares by 340.4% in the second quarter. StoneX Group Inc. now owns 45,204 shares of the company’s stock worth $211,000 after buying an additional 34,939 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Direxion Daily NVDA Bear 1X Shares by 348.8% in the third quarter. Tower Research Capital LLC TRC now owns 23,978 shares of the company’s stock worth $939,000 after buying an additional 18,635 shares in the last quarter. Finally, Advisory Services Network LLC bought a new position in shares of Direxion Daily NVDA Bear 1X Shares in the second quarter worth about $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.