GraniteShares 2x Long PLTR Daily ETF (NASDAQ:PTIR) Trading Down 6.7% – Time to Sell?

Shares of GraniteShares 2x Long PLTR Daily ETF (NASDAQ:PTIR) dropped 6.7% during trading on Friday . The company traded as low as $219.51 and last traded at $220.28. Approximately 868,312 shares traded hands during trading, an increase of 16% from the average daily volume of 748,207 shares. The stock had previously closed at $236.22.

GraniteShares 2x Long PLTR Daily ETF Stock Performance

The firm has a 50 day moving average price of $162.39 and a 200-day moving average price of $145.05.

Hedge Funds Weigh In On GraniteShares 2x Long PLTR Daily ETF

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vestor Capital LLC boosted its stake in shares of GraniteShares 2x Long PLTR Daily ETF by 45.7% during the 1st quarter. Vestor Capital LLC now owns 2,510 shares of the company’s stock valued at $334,000 after buying an additional 787 shares during the last quarter. Hollencrest Capital Management increased its stake in shares of GraniteShares 2x Long PLTR Daily ETF by 605.2% during the first quarter. Hollencrest Capital Management now owns 1,079 shares of the company’s stock valued at $143,000 after acquiring an additional 926 shares during the period. SBI Securities Co. Ltd. boosted its position in shares of GraniteShares 2x Long PLTR Daily ETF by 104.0% during the 1st quarter. SBI Securities Co. Ltd. now owns 5,181 shares of the company’s stock valued at $689,000 after purchasing an additional 2,641 shares in the last quarter. IMC Chicago LLC boosted its stake in shares of GraniteShares 2x Long PLTR Daily ETF by 33.0% during the 1st quarter. IMC Chicago LLC now owns 17,360 shares of the company’s stock worth $2,308,000 after acquiring an additional 4,311 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of GraniteShares 2x Long PLTR Daily ETF during the fourth quarter valued at approximately $1,011,000.

About GraniteShares 2x Long PLTR Daily ETF

The GraniteShares 2x Long PLTR Daily ETF (PTIR) is an exchange-traded fund that mostly invests in information technology equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of Palantir Technologies Inc stock. PTIR was launched on Sep 3, 2024 and is issued by GraniteShares.