Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) Trading Up 17.8% – Time to Buy?

Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU)’s stock price rose 17.8% during mid-day trading on Thursday . The company traded as high as $54.17 and last traded at $55.7230. Approximately 436,496 shares changed hands during trading, a decline of 84% from the average daily volume of 2,702,041 shares. The stock had previously closed at $47.29.

Direxion Daily PLTR Bull 2X Shares Stock Performance

The business’s 50 day simple moving average is $38.69 and its 200 day simple moving average is $39.93.

Direxion Daily PLTR Bull 2X Shares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.6%. The ex-dividend date was Tuesday, June 23rd.

Institutional Investors Weigh In On Direxion Daily PLTR Bull 2X Shares

Hedge funds have recently modified their holdings of the stock. Simplex Trading LLC purchased a new stake in shares of Direxion Daily PLTR Bull 2X Shares during the 4th quarter worth $58,000. Hoey Investments Inc. lifted its stake in shares of 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 valued at $92,000 after purchasing an additional 1,810 shares during the period. Wealth Watch Advisors INC acquired a new position in Direxion Daily PLTR Bull 2X Shares during the third quarter worth about $111,000. Kestra Private Wealth Services LLC acquired a new position in Direxion Daily PLTR Bull 2X Shares during the third quarter worth about $205,000. Finally, Jane Street Group LLC acquired a new position in Direxion Daily PLTR Bull 2X Shares during the first quarter worth about $245,000.

About Direxion Daily PLTR Bull 2X Shares

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.