Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) Shares Up 1.6% - Here's Why

Key Points

• The stock price of Direxion Daily PLTR Bull 2X Shares (PLTU) increased by 1.6%, trading at $78.31, despite a 28% decline in trading volume from the average session.
• Recently, the company announced a quarterly dividend of $0.3171, reflecting an annual yield of 1.6%, up from the previous dividend of $0.11.
• Several institutional investors, including Hollencrest Capital Management and J.W. Cole Advisors, have recently increased or initiated their stakes in PLTU, indicating renewed interest in the stock.

Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU - Get Free Report)'s share price rose 1.6% on Thursday . The stock traded as high as $78.45 and last traded at $78.31. 2,526,882 shares were traded during trading, a decline of 28% from the average daily volume of 3,499,230 shares. The stock had previously closed at $77.07.

Direxion Daily PLTR Bull 2X Shares Price Performance

The firm has a fifty day moving average of $78.82 and a 200 day moving average of $55.64.

Direxion Daily PLTR Bull 2X Shares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 24th were paid a $0.3171 dividend. 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 1.7%.

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

A number of hedge funds have recently modified their holdings of the company. Hollencrest Capital Management acquired a new stake in Direxion Daily PLTR Bull 2X Shares during the first quarter worth about $64,000. J.W. Cole Advisors Inc. purchased a new stake in shares of Direxion Daily PLTR Bull 2X Shares in the 2nd quarter valued at approximately $236,000. Jump Financial LLC purchased a new stake in shares of Direxion Daily PLTR Bull 2X Shares in the 1st quarter valued at approximately $206,000. Jane Street Group LLC purchased a new stake in shares of Direxion Daily PLTR Bull 2X Shares in the 1st quarter valued at approximately $245,000. Finally, Diversify Wealth Management LLC purchased a new stake in shares of Direxion Daily PLTR Bull 2X Shares in the 1st quarter valued at approximately $281,000.

About Direxion Daily PLTR Bull 2X Shares

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.