Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) Stock Price Down 8.7% – Here’s What Happened

Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD)’s share price dropped 8.7% during mid-day trading on Tuesday . The stock traded as low as $6.43 and last traded at $6.43. Approximately 13,840,177 shares were traded during mid-day trading, an increase of 33% from the average daily volume of 10,381,412 shares. The stock had previously closed at $7.04.

Direxion Daily NVDA Bear 1X Shares Price Performance

The firm’s 50 day moving average price is $6.31 and its 200-day moving average price is $7.02.

Direxion Daily NVDA Bear 1X Shares Dividend Announcement

The business also recently disclosed a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.0793 dividend. The ex-dividend date was Monday, December 23rd.

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

A number of institutional investors have recently bought and sold shares of NVDD. Flow Traders U.S. LLC acquired a new stake in Direxion Daily NVDA Bear 1X Shares during the third quarter worth $144,000. Sterling Investment Advisors Ltd. acquired a new stake in Direxion Daily NVDA Bear 1X Shares during the third quarter worth $245,000. Finally, IMC Chicago LLC acquired a new stake in Direxion Daily NVDA Bear 1X Shares during the fourth quarter worth $643,000.

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.