Direxion Daily PLTR Bear 1X Shares (NASDAQ:PLTD) Shares Down 2.8% – Time to Sell?

Shares of Direxion Daily PLTR Bear 1X Shares (NASDAQ:PLTD) dropped 2.8% during mid-day trading on Tuesday . The company traded as low as $7.55 and last traded at $7.67. 48,842,114 shares changed hands during trading, a decline of 3% from the average daily volume of 50,427,027 shares. The stock had previously closed at $7.89.

Direxion Daily PLTR Bear 1X Shares Price Performance

The firm has a fifty day simple moving average of $7.99 and a 200 day simple moving average of $7.66.

Direxion Daily PLTR Bear 1X Shares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were given a dividend of $0.0376 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $0.15 dividend on an annualized basis and a dividend yield of 2.0%.

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

Institutional investors have recently added to or reduced their stakes in the stock. IHT Wealth Management LLC lifted its holdings in Direxion Daily PLTR Bear 1X Shares by 1,514.5% during the fourth quarter. IHT Wealth Management LLC now owns 1,792,070 shares of the company’s stock valued at $11,810,000 after purchasing an additional 1,681,070 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Direxion Daily PLTR Bear 1X Shares in the fourth quarter valued at about $2,106,000. Canton Hathaway LLC acquired a new stake in shares of Direxion Daily PLTR Bear 1X Shares in the fourth quarter valued at about $51,000. Jane Street Group LLC increased its stake in shares of Direxion Daily PLTR Bear 1X Shares by 198.9% during the fourth quarter. Jane Street Group LLC now owns 172,544 shares of the company’s stock worth $1,137,000 after purchasing an additional 114,810 shares in the last quarter. Finally, HRT Financial LP purchased a new stake in shares of Direxion Daily PLTR Bear 1X Shares during the fourth quarter worth about $190,000.

Direxion Daily PLTR Bear 1X Shares Company Profile

The Direxion Daily PLTR Bear 1X Shares (PLTD) 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 Palantir Technologies Stock. PLTD was launched on Dec 11, 2024 and is issued by Direxion.