Direxion Daily AAPL Bear 1X Shares (NASDAQ:AAPD) Stock Cross Above Fifty Day Moving Average – Should You Sell?

Shares of Direxion Daily AAPL Bear 1X Shares (NASDAQ:AAPD) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $16.89 and traded as high as $17.03. Direxion Daily AAPL Bear 1X Shares shares last traded at $16.84, with a volume of 158,937 shares changing hands.

Direxion Daily AAPL Bear 1X Shares Stock Up 0.3 %

The firm’s 50-day moving average price is $16.89 and its 200 day moving average price is $17.82.

Direxion Daily AAPL Bear 1X Shares Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 24th were issued a $0.1472 dividend. This represents a $0.59 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend was Tuesday, September 24th.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in AAPD. Hamilton Wealth LLC bought a new position in Direxion Daily AAPL Bear 1X Shares in the 1st quarter valued at approximately $259,000. Sterling Investment Advisors Ltd. acquired a new position in Direxion Daily AAPL Bear 1X Shares in the 3rd quarter valued at approximately $197,000. Sugar Maple Asset Management LLC bought a new position in shares of Direxion Daily AAPL Bear 1X Shares during the first quarter valued at $317,000. Virtu Financial LLC acquired a new position in shares of Direxion Daily AAPL Bear 1X Shares during the third quarter worth $280,000. Finally, Flow Traders U.S. LLC bought a new stake in shares of Direxion Daily AAPL Bear 1X Shares in the third quarter worth $295,000.

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.