Direxion Daily AAPL Bear 1X Shares (NASDAQ:AAPD) Trading Down 0.2% – Should You Sell?

Direxion Daily AAPL Bear 1X Shares (NASDAQ:AAPD) shares dropped 0.2% on Tuesday . The company traded as low as $13.64 and last traded at $13.67. Approximately 2,242,212 shares changed hands during trading, a decline of 34% from the average daily volume of 3,401,502 shares. The stock had previously closed at $13.70.

Direxion Daily AAPL Bear 1X Shares Stock Down 0.2%

The firm’s fifty day moving average price is $13.12 and its 200 day moving average price is $14.61.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AAPD. Trek Financial LLC purchased a new stake in shares of Direxion Daily AAPL Bear 1X Shares in the 2nd quarter valued at $8,603,000. Citadel Advisors LLC increased its stake in Direxion Daily AAPL Bear 1X Shares by 106.8% during the third quarter. Citadel Advisors LLC now owns 228,003 shares of the company’s stock worth $3,192,000 after purchasing an additional 117,760 shares during the period. Susquehanna International Group LLP lifted its position in shares of Direxion Daily AAPL Bear 1X Shares by 66.9% during the third quarter. Susquehanna International Group LLP now owns 86,191 shares of the company’s stock worth $1,207,000 after purchasing an additional 34,561 shares in the last quarter. Cibc World Market Inc. boosted its stake in shares of Direxion Daily AAPL Bear 1X Shares by 41.9% in the third quarter. Cibc World Market Inc. now owns 47,567 shares of the company’s stock valued at $666,000 after purchasing an additional 14,055 shares during the period. Finally, Wakefield Asset Management LLLP acquired a new position in shares of Direxion Daily AAPL Bear 1X Shares in the second quarter valued at approximately $730,000.

About Direxion Daily AAPL Bear 1X Shares

The Direxion Daily AAPL Bear 1X Shares ETF (AAPD) is an exchange-traded fund that is based on the Apple Inc index. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of Apple stock. AAPD was launched on Aug 9, 2022 and is managed by Direxion.