Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) Reaches New 52-Week High - Time to Buy?

Key Points

• The Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) reached a new 52-week high at $83.99, closing at $83.44 with a trading volume of over 3.3 million shares.
• The company announced a dividend increase from $0.11 to $0.3171 per share, resulting in an annualized dividend of $1.27 and a yield of 1.5%.
• Several hedge funds have recently acquired new positions in PLTU, indicating increased institutional interest in the stock.

Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $83.99 and last traded at $83.44, with a volume of 3335768 shares changing hands. The stock had previously closed at $77.05.

Direxion Daily PLTR Bull 2X Shares Price Performance

The firm's 50-day simple moving average is $70.58 and its 200-day simple moving average is $50.57.

Direxion Daily PLTR Bull 2X Shares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 24th were issued a $0.3171 dividend. The ex-dividend date was Tuesday, June 24th. This represents a $1.27 annualized dividend and a dividend yield of 1.1%. This is an increase from Direxion Daily PLTR Bull 2X Shares's previous quarterly dividend of $0.11.

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

Several large investors have recently modified their holdings of the business. Hollencrest Capital Management bought a new stake in shares of Direxion Daily PLTR Bull 2X Shares in the 1st quarter valued at about $64,000. Jump Financial LLC bought a new position in shares of Direxion Daily PLTR Bull 2X Shares during the 1st quarter worth approximately $206,000. Jane Street Group LLC bought a new position in shares of Direxion Daily PLTR Bull 2X Shares during the 1st quarter worth approximately $245,000. Diversify Wealth Management LLC bought a new position in shares of Direxion Daily PLTR Bull 2X Shares during the 1st quarter worth approximately $281,000. Finally, Belvedere Trading LLC bought a new position in shares of Direxion Daily PLTR Bull 2X Shares during the 1st quarter worth approximately $337,000.

Direxion Daily PLTR Bull 2X Shares 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.