Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) Shares Down 3.2% - Time to Sell?

Key Points

• Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) experienced a 3.2% decline in stock price during Wednesday trading, dropping to as low as $85.38, with a significant decrease in trading volume.
• The fund announced an increase in its quarterly dividend to $0.3171, representing a yield of 1.5%, up from the previous $0.11 dividend.
• Several institutional investors have recently adjusted their holdings, with notable purchases including new stakes worth between $64,000 and $236,000.

Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU - ) shares traded down 3.2% during trading on Wednesday . The company traded as low as $85.38 and last traded at $86.93. 388,676 shares traded hands during trading, a decline of 89% from the average session volume of 3,390,436 shares. The stock had previously closed at $89.77.

Direxion Daily PLTR Bull 2X Shares Trading Down 6.5%

The business's 50-day moving average price is $83.38 and its 200 day moving average price is $58.50.

Direxion Daily PLTR Bull 2X Shares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 24th were given a $0.3171 dividend. This represents a $1.27 annualized dividend and a yield of 1.5%. This is a boost from Direxion Daily PLTR Bull 2X Shares's previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, June 24th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management bought a new position in Direxion Daily PLTR Bull 2X Shares in the first quarter valued at $64,000. J.W. Cole Advisors Inc. purchased a new stake in Direxion Daily PLTR Bull 2X Shares during the second quarter valued at about $236,000. Diversify Wealth Management LLC boosted its position in Direxion Daily PLTR Bull 2X Shares by 50.0% during the second quarter. Diversify Wealth Management LLC now owns 15,000 shares of the company's stock valued at $921,000 after buying an additional 5,000 shares during the period. Jump Financial LLC purchased a new stake in Direxion Daily PLTR Bull 2X Shares during the first quarter valued at about $206,000. Finally, Jane Street Group LLC purchased a new stake in Direxion Daily PLTR Bull 2X Shares during the first quarter valued at about $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.

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