Direxion Daily PLTR Bear 1X Shares (NASDAQ:PLTD) Trading 0.8% Higher – Still a Buy?

Direxion Daily PLTR Bear 1X Shares (NASDAQ:PLTD) shares traded up 0.8% on Thursday . The company traded as high as $6.61 and last traded at $6.58. 44,687,928 shares changed hands during mid-day trading, a decline of 5% from the average session volume of 47,194,727 shares. The stock had previously closed at $6.53.

Direxion Daily PLTR Bear 1X Shares Stock Performance

The business has a 50 day simple moving average of $6.64 and a 200-day simple moving average of $7.19.

Direxion Daily PLTR Bear 1X Shares Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 23rd were issued a $0.0494 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Tuesday, December 23rd.

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

A number of institutional investors have recently bought and sold shares of PLTD. IMC Chicago LLC lifted its position in shares of Direxion Daily PLTR Bear 1X Shares by 527.6% in the 2nd quarter. IMC Chicago LLC now owns 1,336,197 shares of the company’s stock valued at $12,493,000 after acquiring an additional 1,123,294 shares in the last quarter. Benchmark Financial Wealth Advisors LLC bought a new stake in Direxion Daily PLTR Bear 1X Shares in the second quarter worth $104,000. Flow Traders U.S. LLC acquired a new stake in Direxion Daily PLTR Bear 1X Shares in the 2nd quarter worth approximately $118,000. Jane Street Group LLC grew its stake in Direxion Daily PLTR Bear 1X Shares by 43.0% in the 2nd quarter. Jane Street Group LLC now owns 62,666 shares of the company’s stock valued at $586,000 after buying an additional 18,829 shares during the last quarter. Finally, IHT Wealth Management LLC bought a new stake in Direxion Daily PLTR Bear 1X Shares during the 2nd quarter valued at approximately $2,321,000.

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.