Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) Reaches New 52-Week High - Here's Why

Key Points

• Direxion Daily PLTR Bull 2X Shares (PLTU) reached a new 52-week high of $113.05, closing at $112.20 with significant trading volume of over 2.1 million shares.
• The company recently increased its quarterly dividend to $0.3171 per share, resulting in an annualized dividend of $1.27 and a dividend yield of 1.1%.
• Notable institutional investments in PLTU have been made, including purchases from Optiver Holding B.V. and Bank of America, totaling around $1.5 million in new positions.

Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $113.05 and last traded at $112.20, with a volume of 2114416 shares traded. The stock had previously closed at $106.76.

Direxion Daily PLTR Bull 2X Shares Stock Performance

The firm's 50 day simple moving average is $75.55 and its 200 day simple moving average is $53.41.

Direxion Daily PLTR Bull 2X Shares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 24th were given a $0.3171 dividend. This is an increase from Direxion Daily PLTR Bull 2X Shares's previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Tuesday, June 24th. This represents a $1.27 dividend on an annualized basis and a yield of 1.3%.

Institutional Trading of Direxion Daily PLTR Bull 2X Shares

Several institutional investors have recently added to or reduced their stakes in PLTU. Optiver Holding B.V. bought a new position in shares of Direxion Daily PLTR Bull 2X Shares during the fourth quarter valued at approximately $835,000. Bank of America Corp DE bought a new stake in shares of Direxion Daily PLTR Bull 2X Shares during the 4th quarter worth approximately $696,000. Belvedere Trading LLC purchased a new position in Direxion Daily PLTR Bull 2X Shares during the 1st quarter valued at $337,000. Diversify Wealth Management LLC bought a new position in Direxion Daily PLTR Bull 2X Shares in the 1st quarter valued at $281,000. Finally, Jane Street Group LLC bought a new position in Direxion Daily PLTR Bull 2X Shares in the 1st quarter valued at $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.