Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) Shares Down 9.3% - Here's Why

Key Points

• Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) has seen a significant decline of 9.3%, trading as low as $96.40, compared to a previous close of $107.01.
• The company has announced an increased quarterly dividend of $0.3624 per share, reflecting a positive change from the previous $0.32 dividend.
• Multiple institutional investors are actively acquiring shares in the fund, with notable purchases including $281,000 from Diversify Wealth Management LLC during the first quarter.

Shares of Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU - ) traded down 9.3% on Friday . The stock traded as low as $96.40 and last traded at $97.03. 752,572 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 3,288,025 shares. The stock had previously closed at $107.01.

Direxion Daily PLTR Bull 2X Shares Stock Down 14.8%

The stock's fifty day simple moving average is $89.75 and its 200-day simple moving average is $64.16.

Direxion Daily PLTR Bull 2X Shares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd were given a dividend of $0.3624 per share. This represents a $1.45 annualized dividend and a yield of 1.6%. This is a positive change from Direxion Daily PLTR Bull 2X Shares's previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Tuesday, September 23rd.

Institutional Trading of Direxion Daily PLTR Bull 2X Shares

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hollencrest Capital Management bought a new position in shares of Direxion Daily PLTR Bull 2X Shares during the first quarter valued at approximately $64,000. Jump Financial LLC bought a new stake in shares of Direxion Daily PLTR Bull 2X Shares during the 1st quarter worth $206,000. J.W. Cole Advisors Inc. acquired a new stake in Direxion Daily PLTR Bull 2X Shares during the 2nd quarter worth about $236,000. Jane Street Group LLC purchased a new stake in shares of Direxion Daily PLTR Bull 2X Shares in the 1st quarter valued at approximately $245,000. Finally, Diversify Wealth Management LLC purchased a new position in shares of Direxion Daily PLTR Bull 2X Shares during the first quarter valued at $281,000.

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.

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