Direxion Daily PLTR Bull 2X ETF (NASDAQ:PLTU) Stock Breaks Below 200 Day Moving Average – Time to Sell?

Direxion Daily PLTR Bull 2X ETF (NASDAQ:PLTU) crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $44.73 and traded as low as $35.82. Direxion Daily PLTR Bull 2X ETF shares last traded at $36.99, with a volume of 966,769 shares.

Direxion Daily PLTR Bull 2X ETF Stock Up 7.1%

The business’s fifty day moving average price is $55.62 and its 200 day moving average price is $44.60.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in PLTU. Integrated Wealth Concepts LLC acquired a new stake in Direxion Daily PLTR Bull 2X ETF in the second quarter valued at approximately $49,000. Hoey Investments Inc. lifted its stake in shares of Direxion Daily PLTR Bull 2X ETF by 426.3% in the 3rd quarter. Hoey Investments Inc. now owns 4,000 shares of the company’s stock valued at $225,000 after acquiring an additional 3,240 shares during the last quarter. Tactive Advisors LLC acquired a new stake in shares of Direxion Daily PLTR Bull 2X ETF during the 3rd quarter valued at $377,000. Turner Financial Group Inc. acquired a new position in Direxion Daily PLTR Bull 2X ETF in the 2nd quarter worth about $317,000. Finally, Optiver Holding B.V. increased its holdings in Direxion Daily PLTR Bull 2X ETF by 96.2% in the 1st quarter. Optiver Holding B.V. now owns 12,658 shares of the company’s stock worth $563,000 after purchasing an additional 6,205 shares in the last quarter.

Direxion Daily PLTR Bull 2X ETF 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.