Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) Stock Price Up 2.3% - Time to Buy?

Key Points

• The stock price of Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) increased by 2.3%, reaching a trading price of $107.01 during mid-day trading.
• The company announced an increase in its quarterly dividend to $0.3624 per share, reflecting an annualized dividend yield of 1.4%.
• Institutional investor activity included new positions and increases in holdings, with notable purchases from firms such as Hollencrest Capital Management and Diversify Wealth Management LLC.

Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU - )'s stock price rose 2.3% during mid-day trading on Thursday . The company traded as high as $108.45 and last traded at $107.01. Approximately 1,309,172 shares traded hands during trading, a decline of 60% from the average daily volume of 3,303,989 shares. The stock had previously closed at $104.61.

Direxion Daily PLTR Bull 2X Shares Stock Performance

The business's 50 day simple moving average is $89.75 and its 200-day simple moving average is $64.16.

Direxion Daily PLTR Bull 2X Shares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd were issued a dividend of $0.3624 per share. The ex-dividend date was Tuesday, September 23rd. This represents a $1.45 dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from Direxion Daily PLTR Bull 2X Shares's previous quarterly dividend of $0.32.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hollencrest Capital Management bought a new position in shares of Direxion Daily PLTR Bull 2X Shares during the 1st quarter valued at $64,000. J.W. Cole Advisors Inc. bought a new position in shares of Direxion Daily PLTR Bull 2X Shares during the 2nd quarter valued at $236,000. Diversify Wealth Management LLC raised its holdings in shares of Direxion Daily PLTR Bull 2X Shares by 50.0% during the 2nd quarter. Diversify Wealth Management LLC now owns 15,000 shares of the company's stock valued at $921,000 after purchasing an additional 5,000 shares in the last quarter. Jump Financial LLC bought a new position in shares of Direxion Daily PLTR Bull 2X Shares during the 1st quarter valued at $206,000. Finally, Jane Street Group LLC bought a new position in shares of Direxion Daily PLTR Bull 2X Shares during the 1st quarter valued at $245,000.

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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