Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD) Stock Cross Below 200 Day Moving Average – Here’s Why

Direxion Daily NVDA Bear 1X Shares (NASDAQ:NVDD)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.76 and traded as low as $6.22. Direxion Daily NVDA Bear 1X Shares shares last traded at $6.47, with a volume of 6,655,244 shares changing hands.

Direxion Daily NVDA Bear 1X Shares Price Performance

The business’s 50-day moving average price is $6.65 and its 200-day moving average price is $7.76.

Direxion Daily NVDA Bear 1X Shares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 24th were issued a $0.0728 dividend. This is a positive change from Direxion Daily NVDA Bear 1X Shares’s previous quarterly dividend of $0.05. This represents a $0.29 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend was Tuesday, September 24th.

Institutional Trading of Direxion Daily NVDA Bear 1X Shares

Institutional investors have recently made changes to their positions in the business. Sterling Investment Advisors Ltd. acquired a new position in Direxion Daily NVDA Bear 1X Shares during the 3rd quarter valued at about $245,000. Weil Company Inc. purchased a new stake in shares of Direxion Daily NVDA Bear 1X Shares during the second quarter worth about $186,000. Flow Traders U.S. LLC acquired a new position in shares of Direxion Daily NVDA Bear 1X Shares during the third quarter valued at about $144,000. Finally, Silver Lake Advisory LLC purchased a new position in shares of Direxion Daily NVDA Bear 1X Shares in the 2nd quarter valued at approximately $81,000.

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.