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

Direxion Daily AAPL Bear 1X Shares (NASDAQ:AAPD)’s stock price crossed 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 Trading Down 0.5 %

The firm has a 50-day moving average of $16.87 and a 200 day moving average of $17.79.

Direxion Daily AAPL Bear 1X Shares Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors 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 3.51%. The ex-dividend date was Tuesday, September 24th.

Institutional Trading of Direxion Daily AAPL Bear 1X Shares

Several hedge funds have recently bought and sold shares of AAPD. Sugar Maple Asset Management LLC bought a new position in shares of Direxion Daily AAPL Bear 1X Shares during the first quarter worth $317,000. Virtu Financial LLC bought a new stake in shares of Direxion Daily AAPL Bear 1X Shares during the first quarter worth $416,000. Hamilton Wealth LLC purchased a new stake in shares of Direxion Daily AAPL Bear 1X Shares during the first quarter valued at $259,000. Sterling Investment Advisors Ltd. bought a new position in shares of Direxion Daily AAPL Bear 1X Shares in the third quarter worth about $197,000. Finally, Ridgecrest Wealth Partners LLC purchased a new position in Direxion Daily AAPL Bear 1X Shares in the 3rd quarter worth about $540,000.

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.