Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) Trading 15.5% Higher – Should You Buy?

Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) shares rose 15.5% during trading on Thursday . The company traded as high as $40.07 and last traded at $39.94. Approximately 4,425,430 shares traded hands during mid-day trading, an increase of 67% from the average daily volume of 2,653,641 shares. The stock had previously closed at $34.58.

Direxion Daily PLTR Bull 2X Shares Price Performance

The stock has a 50-day simple moving average of $41.16 and a 200 day simple moving average of $57.63.

Direxion Daily PLTR Bull 2X Shares Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were given a $0.3584 dividend. This represents a $1.43 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Tuesday, March 24th.

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

Several large investors have recently modified their holdings of PLTU. Simplex Trading LLC bought a new stake in Direxion Daily PLTR Bull 2X Shares during the 4th quarter worth approximately $58,000. Hoey Investments Inc. raised its holdings in 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 during the period. Wealth Watch Advisors INC acquired a new stake in Direxion Daily PLTR Bull 2X Shares during the 3rd quarter worth approximately $111,000. Kestra Private Wealth Services LLC acquired a new stake in Direxion Daily PLTR Bull 2X Shares during the 3rd quarter worth approximately $205,000. Finally, Jane Street Group LLC acquired a new stake in Direxion Daily PLTR Bull 2X Shares during the 1st quarter worth approximately $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.