Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) Shares Up 7.5% – Should You Buy?

Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) shot up 7.5% during trading on Thursday . The company traded as high as $56.66 and last traded at $56.32. Approximately 357,973 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 2,749,422 shares. The stock had previously closed at $52.37.

Direxion Daily PLTR Bull 2X Shares Price Performance

The stock has a 50 day moving average of $37.06 and a 200 day moving average of $39.69.

Direxion Daily PLTR Bull 2X Shares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, June 23rd.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Simplex Trading LLC acquired a new position in Direxion Daily PLTR Bull 2X Shares during the fourth quarter valued at approximately $58,000. Wealth Watch Advisors INC acquired a new stake in shares of Direxion Daily PLTR Bull 2X Shares in the 3rd quarter valued at $111,000. Kestra Private Wealth Services LLC bought a new position in shares of Direxion Daily PLTR Bull 2X Shares in the 3rd quarter valued at $205,000. Hoey Investments Inc. raised its holdings in shares of Direxion Daily PLTR Bull 2X Shares by 724.0% during the 1st quarter. Hoey Investments Inc. now owns 2,060 shares of the company’s stock worth $92,000 after buying an additional 1,810 shares in the last quarter. Finally, Ausdal Financial Partners Inc. acquired a new position in shares of Direxion Daily PLTR Bull 2X Shares during the 3rd quarter worth $466,000.

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.