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 - Get Free Report) 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 trading hands.

Direxion Daily PLTR Bull 2X Shares Price Performance

The business has a 50 day simple moving average of $82.32 and a 200 day simple moving average of $57.86.

Direxion Daily PLTR Bull 2X Shares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 24th were given a $0.3171 dividend. This is an increase from Direxion Daily PLTR Bull 2X Shares's previous quarterly dividend of $0.11. This represents a $1.27 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, June 24th.

Hedge Funds Weigh In On Direxion Daily PLTR Bull 2X Shares

Large investors have recently made changes to their positions in the business. Hollencrest Capital Management acquired a new position in shares of Direxion Daily PLTR Bull 2X Shares during the 1st quarter worth about $64,000. J.W. Cole Advisors Inc. acquired a new position in shares of Direxion Daily PLTR Bull 2X Shares during the 2nd quarter worth about $236,000. Jump Financial LLC acquired a new position in shares of Direxion Daily PLTR Bull 2X Shares during the 1st quarter worth about $206,000. Jane Street Group LLC acquired a new position in shares of Direxion Daily PLTR Bull 2X Shares during the 1st quarter worth about $245,000. Finally, Diversify Wealth Management LLC acquired a new position in shares of Direxion Daily PLTR Bull 2X Shares during the 1st quarter worth about $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.