Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) Sees Unusually-High Trading Volume – Still a Buy?

Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) saw unusually-strong trading volume on Monday . Approximately 2,218,179 shares changed hands during mid-day trading, a decline of 18% from the previous session’s volume of 2,715,299 shares.The stock last traded at $50.02 and had previously closed at $47.59.

Direxion Daily PLTR Bull 2X Shares Price Performance

The firm has a 50-day moving average of $40.89 and a two-hundred day moving average of $56.83.

Direxion Daily PLTR Bull 2X Shares Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were given a $0.3584 dividend. This represents a $1.43 annualized dividend and a yield of 2.9%. The ex-dividend date was Tuesday, March 24th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Simplex Trading LLC purchased a new position in Direxion Daily PLTR Bull 2X Shares in the fourth quarter worth approximately $58,000. Hoey Investments Inc. grew its position in Direxion Daily PLTR Bull 2X Shares by 724.0% in the first quarter. Hoey Investments Inc. now owns 2,060 shares of the company’s stock worth $92,000 after acquiring an additional 1,810 shares during the period. Wealth Watch Advisors INC purchased a new position in shares of Direxion Daily PLTR Bull 2X Shares during the third quarter worth $111,000. Kestra Private Wealth Services LLC purchased a new position in shares of Direxion Daily PLTR Bull 2X Shares during the third quarter worth $205,000. Finally, Jane Street Group LLC purchased a new position in shares of Direxion Daily PLTR Bull 2X Shares during the first quarter worth $245,000.

Direxion Daily PLTR Bull 2X Shares Company Profile

The Direxion Daily PLTR Bull 2X Shares (PLTU) 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 Stock. PLTU was launched on Dec 11, 2024 and is issued by Direxion.