Direxion Shares ETF Trust - Direxion Daily PLTR Bear 1X ETF
PLTD
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- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 535 Madison Avenue, 37th Floor New York NY United States of America 10022
- IPO Date
- Dec 12, 2024
- Similar Companies
- Business
- Direxion Shares ETF Trust - Direxion Daily PLTR Bear 1X ETF (NASDAQ: PLTD) is a U.S.-listed, actively managed single-stock inverse exchange-traded fund that seeks, before fees and expenses, daily investment results equal to 100% of the inverse of the daily performance of common shares of Palantir Technologies Inc. (NASDAQ: PLTR). The fund is designed as a short-term tactical trading vehicle for investors seeking inverse exposure to Palantir’s daily stock-price movements, rather than as a conventional long-term investment. PLTD primarily obtains its exposure through financial instruments, including swap agreements and options, and may also invest in Palantir shares and cash or cash equivalents; it normally invests at least 80% of net assets, plus borrowings for investment purposes, in Palantir securities and/or instruments providing the targeted inverse exposure. The fund is part of Direxion’s leveraged and inverse ETF platform, which offers exchange-traded investment products covering single equities, equity indexes, sectors, commodities and other market exposures. PLTD was launched on December 11, 2024, alongside the Direxion Daily PLTR Bull 2X ETF (PLTU), expanding Direxion’s single-stock leveraged and inverse ETF lineup with products linked to Palantir Technologies and Berkshire Hathaway. Direxion Shares ETF Trust is a Delaware statutory trust organized on April 23, 2008 and registered as an open-end management investment company under the Investment Company Act of 1940. Rafferty Asset Management, LLC, doing business as Direxion Investments, serves as investment adviser; Rafferty was organized in New York in June 1997 and is headquartered at 535 Madison Avenue, New York, New York. As a major recent operational change, the Trust announced in March 2026 that PLTD would cease trading on Nasdaq and close to new purchases after April 10, 2026, followed by portfolio liquidation and a pro rata cash distribution to remaining shareholders on or about April 17, 2026, after Rafferty determined that the fund could not operate economically efficiently over the long term because of insufficient assets to sustain a competitive operating structure.