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

Direxion Daily PLTR Bear 1X Shares (NASDAQ:PLTD) saw a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 2,411,185 shares, a growth of 426.7% from the January 29th total of 457,794 shares. Based on an average trading volume of 53,146,902 shares, the days-to-cover ratio is currently 0.0 days. Currently, 42.5% of the company’s shares are sold short. Currently, 42.5% of the company’s shares are sold short. Based on an average trading volume of 53,146,902 shares, the days-to-cover ratio is currently 0.0 days.

Direxion Daily PLTR Bear 1X Shares Stock Down 4.2%

NASDAQ:PLTD traded down $0.37 on Wednesday, reaching $8.40. 53,647,403 shares of the company’s stock were exchanged, compared to its average volume of 46,504,789. Direxion Daily PLTR Bear 1X Shares has a 52-week low of $5.87 and a 52-week high of $21.50. The business has a fifty day moving average of $7.26 and a 200-day moving average of $7.10.

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 paid a dividend of $0.0494 per share. This represents a $0.20 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, December 23rd.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IHT Wealth Management LLC increased its position in shares of 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 worth $11,810,000 after acquiring an additional 1,681,070 shares during the period. Virtu Financial LLC purchased a new position in Direxion Daily PLTR Bear 1X Shares in the fourth quarter valued at $2,106,000. Advisory Services Network LLC acquired a new position in Direxion Daily PLTR Bear 1X Shares during the 2nd quarter worth $1,348,000. Jane Street Group LLC grew its stake in Direxion Daily PLTR Bear 1X Shares by 198.9% during 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 in the last quarter. Finally, Susquehanna International Group LLP purchased a new stake in Direxion Daily PLTR Bear 1X Shares during the 3rd quarter worth about $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.