Direxion Daily PLTR Bear 1X Shares (NASDAQ:PLTD) Sees Significant Drop in Short Interest

Direxion Daily PLTR Bear 1X Shares (NASDAQ:PLTD) saw a significant decline in short interest in July. As of July 31st, there was short interest totaling 364,056 shares, a decline of 49.0% from the July 15th total of 714,479 shares. Currently, 7.3% of the shares of the stock are sold short. Based on an average daily volume of 39,385,525 shares, the days-to-cover ratio is currently 0.0 days.

Direxion Daily PLTR Bear 1X Shares Price Performance

Shares of PLTD stock traded up $0.16 during trading hours on Friday, hitting $5.27. 16,385,649 shares of the company’s stock were exchanged, compared to its average volume of 48,536,691. Direxion Daily PLTR Bear 1X Shares has a 52 week low of $5.09 and a 52 week high of $9.73. The stock’s 50-day moving average is $7.67 and its 200-day moving average is $7.72.

Direxion Daily PLTR Bear 1X Shares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors 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 annualized dividend and a yield of 2.9%.

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

Hedge funds have recently added to or reduced their stakes in the stock. IHT Wealth Management LLC raised its stake in shares of Direxion Daily PLTR Bear 1X Shares by 1,514.5% in the fourth quarter. IHT Wealth Management LLC now owns 1,792,070 shares of the company’s stock worth $11,810,000 after acquiring an additional 1,681,070 shares during 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 approximately $2,106,000. Advisory Services Network LLC bought a new position in Direxion Daily PLTR Bear 1X Shares in the 2nd quarter worth approximately $1,348,000. Jane Street Group LLC raised its position in Direxion Daily PLTR Bear 1X Shares by 198.9% in the 4th 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 during the last quarter. Finally, Susquehanna International Group LLP acquired a new position in Direxion Daily PLTR Bear 1X Shares during the 3rd quarter worth $433,000.

About Direxion Daily PLTR Bear 1X Shares

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.