GraniteShares 2x Long PLTR Daily ETF (NASDAQ:PTIR) Stock Falls 14.4% – Should You Sell?

Shares of GraniteShares 2x Long PLTR Daily ETF (NASDAQ:PTIR) traded down 14.4% on Friday. The stock traded as low as $20.14 and last traded at $20.50. Approximately 4,834,930 shares traded hands during mid-day trading, an increase of 3% from the average session volume of 4,707,078 shares. The stock had previously closed at $23.96.

GraniteShares 2x Long PLTR Daily ETF Trading Down 14.4%

The business’s 50-day moving average is $20.35 and its 200-day moving average is $15.70.

Institutional Trading of GraniteShares 2x Long PLTR Daily ETF

Several hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC boosted its position in GraniteShares 2x Long PLTR Daily ETF by 188.5% in the 1st quarter. Parallel Advisors LLC now owns 1,500 shares of the company’s stock valued at $25,000 after buying an additional 980 shares during the last quarter. Financial Life Planners bought a new stake in GraniteShares 2x Long PLTR Daily ETF in the first quarter valued at about $50,000. Vestor Capital LLC lifted its stake in GraniteShares 2x Long PLTR Daily ETF by 233.7% in the first quarter. Vestor Capital LLC now owns 24,762 shares of the company’s stock valued at $405,000 after buying an additional 17,342 shares during the period. Renaissance Technologies LLC acquired a new position in GraniteShares 2x Long PLTR Daily ETF in the first quarter valued at about $570,000. Finally, Group One Trading LLC acquired a new position in shares of GraniteShares 2x Long PLTR Daily ETF during the 1st quarter worth about $675,000.

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.