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

Key Points

• Direxion Daily PLTR Bull 2X Shares saw its stock price drop from a previous close of $100.07 to open at $97.64 on the latest trading day.
• The company announced a quarterly dividend increase from $0.11 to $0.3171 per share, leading to an annualized yield of 1.3%.
• Institutional investors have been actively trading the stock, with various firms acquiring significant new positions, reflecting interest in the fund.

Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $100.07, but opened at $97.64. Direxion Daily PLTR Bull 2X Shares shares last traded at $98.86, with a volume of 320,760 shares traded.

Direxion Daily PLTR Bull 2X Shares Stock Performance

The firm's 50-day moving average is $77.55 and its two-hundred day moving average is $54.86.

Direxion Daily PLTR Bull 2X Shares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 24th were paid a dividend of $0.3171 per share. The ex-dividend date of this dividend was Tuesday, June 24th. This represents a $1.27 annualized dividend and a yield of 1.6%. This is a boost from Direxion Daily PLTR Bull 2X Shares's previous quarterly dividend of $0.11.

Institutional Trading of Direxion Daily PLTR Bull 2X Shares

Several large investors have recently bought and sold shares of PLTU. Optiver Holding B.V. purchased a new stake in Direxion Daily PLTR Bull 2X Shares during the 4th quarter valued at about $835,000. Bank of America Corp DE purchased a new stake in Direxion Daily PLTR Bull 2X Shares during the 4th quarter valued at about $696,000. Diversify Wealth Management LLC purchased a new stake in Direxion Daily PLTR Bull 2X Shares during the 1st quarter valued at about $281,000. Hollencrest Capital Management purchased a new stake in Direxion Daily PLTR Bull 2X Shares during the 1st quarter valued at about $64,000. Finally, Belvedere Trading LLC purchased a new stake in shares of Direxion Daily PLTR Bull 2X Shares in the 1st quarter valued at 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.