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

Key Points

• PLTU gapped up, opening at $41.18 from a prior close of $38.83 and last trading at $41.80 on volume of 805,535 shares, an approximate intraday gain of 8.0%.
• The fund paid a quarterly dividend of $0.3584 (paid March 31; ex-dividend March 24), which annualizes to $1.43 and implies a 3.4% yield.
• PLTU is a 2x leveraged ETF tracking daily moves in Palantir Technologies (launched Dec 11, 2024); despite the gap up, its 50-day ($44.35) and 200-day ($66.19) simple moving averages are higher, and several institutional investors recently established or increased positions.

Shares of Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU - ) gapped up before the market opened on Friday . The stock had previously closed at $38.83, but opened at $41.18. Direxion Daily PLTR Bull 2X Shares shares last traded at $41.80, with a volume of 805,535 shares trading hands.

Direxion Daily PLTR Bull 2X Shares Stock Up 8.0%

The business's 50 day simple moving average is $44.35 and its two-hundred day simple moving average is $66.19.

Direxion Daily PLTR Bull 2X Shares Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were paid a $0.3584 dividend. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $1.43 annualized dividend and a dividend yield of 3.4%.

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

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ausdal Financial Partners Inc. boosted its holdings in Direxion Daily PLTR Bull 2X Shares by 52.0% during the fourth quarter. Ausdal Financial Partners Inc. now owns 6,955 shares of the company's stock worth $511,000 after purchasing an additional 2,380 shares during the last quarter. StoneX Group Inc. bought a new position in shares of Direxion Daily PLTR Bull 2X Shares in the fourth quarter valued at approximately $356,000. Simplex Trading LLC purchased a new stake in shares of Direxion Daily PLTR Bull 2X Shares during the fourth quarter valued at approximately $58,000. Kestra Private Wealth Services LLC purchased a new stake in shares of Direxion Daily PLTR Bull 2X Shares during the third quarter valued at approximately $205,000. Finally, Wealth Watch Advisors INC bought a new stake in Direxion Daily PLTR Bull 2X Shares during the third quarter worth $111,000.

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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