Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) Stock Price Down 8.7% - Should You Sell?

Key Points

• The stock price of Direxion Daily PLTR Bull 2X Shares (PLTU) fell by 8.7% to $95.18, significantly down from the previous closing of $104.22, with trading volume declining by 64% from average levels.
• Despite the stock's decline, the fund announced an increase in its quarterly dividend to $0.3624 per share, representing an annualized yield of 1.5%.
• Multiple institutional investors have recently acquired stakes in the fund, with new investments totaling as much as $281,000 by Diversify Wealth Management LLC in the 1st quarter.

Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU - ) fell 8.7% on Friday . The company traded as low as $94.81 and last traded at $95.18. 1,190,739 shares changed hands during trading, a decline of 64% from the average session volume of 3,277,792 shares. The stock had previously closed at $104.22.

Direxion Daily PLTR Bull 2X Shares Trading Down 4.8%

The business's 50-day moving average price is $91.56 and its two-hundred day moving average price is $66.49.

Direxion Daily PLTR Bull 2X Shares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd were issued a dividend of $0.3624 per share. The ex-dividend date was Tuesday, September 23rd. This is a positive change from Direxion Daily PLTR Bull 2X Shares's previous quarterly dividend of $0.32. This represents a $1.45 dividend on an annualized basis and a dividend yield of 1.5%.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hollencrest Capital Management acquired a new stake in Direxion Daily PLTR Bull 2X Shares in the 1st quarter valued at $64,000. Jump Financial LLC acquired a new stake in Direxion Daily PLTR Bull 2X Shares in the 1st quarter valued at $206,000. J.W. Cole Advisors Inc. acquired a new stake in Direxion Daily PLTR Bull 2X Shares in the 2nd quarter valued at $236,000. Jane Street Group LLC acquired a new stake in Direxion Daily PLTR Bull 2X Shares in the 1st quarter valued at $245,000. Finally, Diversify Wealth Management LLC acquired a new stake in Direxion Daily PLTR Bull 2X Shares in the 1st 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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