Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) Trading 8.2% Higher – Time to Buy?

Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) shares rose 8.2% on Friday . The stock traded as high as $54.68 and last traded at $54.21. Approximately 2,298,525 shares traded hands during trading, a decline of 5% from the average daily volume of 2,412,416 shares. The stock had previously closed at $50.10.

Direxion Daily PLTR Bull 2X Shares Stock Performance

The stock has a 50 day simple moving average of $55.29 and a two-hundred day simple moving average of $78.17.

Direxion Daily PLTR Bull 2X Shares Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 23rd were given a $0.5578 dividend. This represents a $2.23 annualized dividend and a yield of 4.2%. The ex-dividend date was Tuesday, December 23rd.

Hedge Funds Weigh In On Direxion Daily PLTR Bull 2X Shares

Several institutional investors have recently made changes to their positions in the company. Jane Street Group LLC acquired a new position in shares of Direxion Daily PLTR Bull 2X Shares in the 1st quarter valued at $245,000. J.W. Cole Advisors Inc. acquired a new stake in Direxion Daily PLTR Bull 2X Shares during the second quarter valued at $236,000. Diversify Wealth Management LLC grew its position in Direxion Daily PLTR Bull 2X Shares by 50.0% during the second quarter. Diversify Wealth Management LLC now owns 15,000 shares of the company’s stock valued at $921,000 after buying an additional 5,000 shares during the period. OMNI 360 Wealth Inc. purchased a new position in Direxion Daily PLTR Bull 2X Shares in the third quarter valued at $224,000. Finally, Spire Wealth Management increased its holdings in Direxion Daily PLTR Bull 2X Shares by 84.7% in the third quarter. Spire Wealth Management now owns 665 shares of the company’s stock valued at $68,000 after buying an additional 305 shares in the last quarter.

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.