Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) Trading 8.6% Higher – Still a Buy?

Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) shot up 8.6% on Friday . The company traded as high as $54.90 and last traded at $54.75. 1,581,260 shares were traded during trading, a decline of 43% from the average daily volume of 2,788,197 shares. The stock had previously closed at $50.40.

Direxion Daily PLTR Bull 2X Shares Stock Up 6.8%

The stock has a 50 day moving average price of $34.97 and a 200 day moving average price of $39.40.

Direxion Daily PLTR Bull 2X Shares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.88 annualized dividend and a dividend yield of 1.6%.

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

A number of institutional investors have recently added to or reduced their stakes in PLTU. Simplex Trading LLC acquired a new position in Direxion Daily PLTR Bull 2X Shares in the 4th quarter valued at approximately $58,000. Wealth Watch Advisors INC acquired a new position in shares of Direxion Daily PLTR Bull 2X Shares in the 3rd quarter worth approximately $111,000. Kestra Private Wealth Services LLC acquired a new position in Direxion Daily PLTR Bull 2X Shares in the third quarter valued at $205,000. Hoey Investments Inc. lifted its stake in shares of Direxion Daily PLTR Bull 2X Shares by 724.0% in the 1st 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. Finally, Ausdal Financial Partners Inc. acquired a new position in Direxion Daily PLTR Bull 2X Shares in the third quarter valued at approximately $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.