Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) Shares Gap Up - Time to Buy?

Key Points

• Shares of Direxion Daily PLTR Bull 2X Shares (PLTU) opened significantly higher at $85.79 after closing at $82.04, indicating a bullish trend with a trading volume of over 1.36 million shares.
• The fund recently increased its quarterly dividend from $0.11 to $0.3171 per share, which translates to an annualized yield of 1.5%.
• Several institutional investors have recently established new positions in PLTU, including Bank of America and Belvedere Trading LLC, suggesting growing interest in this leveraged fund.

Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU - ) shares gapped up prior to trading on Wednesday . The stock had previously closed at $82.04, but opened at $85.79. Direxion Daily PLTR Bull 2X Shares shares last traded at $85.93, with a volume of 1,361,970 shares changing hands.

Direxion Daily PLTR Bull 2X Shares Trading Up 6.5%

The company has a fifty day moving average of $80.61 and a 200-day moving average of $56.56.

Direxion Daily PLTR Bull 2X Shares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 24th were paid a dividend of $0.3171 per share. This is a boost 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 dividend yield of 1.5%.

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

Several large investors have recently made changes to their positions in PLTU. Bank of America Corp DE bought a new position in Direxion Daily PLTR Bull 2X Shares during the fourth quarter worth about $696,000. Belvedere Trading LLC acquired a new position in shares of Direxion Daily PLTR Bull 2X Shares in the 1st quarter worth approximately $337,000. Diversify Wealth Management LLC bought a new position in shares of Direxion Daily PLTR Bull 2X Shares during the 1st quarter worth approximately $281,000. Jane Street Group LLC acquired a new stake in Direxion Daily PLTR Bull 2X Shares in the 1st quarter valued at $245,000. Finally, Jump Financial LLC acquired a new stake in Direxion Daily PLTR Bull 2X Shares in the 1st quarter valued at $206,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.