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Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) Trading 1.6% Higher - Should You Buy?

Direxion Daily PLTR Bull 2X Shares logo with background

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.
  • Five stocks we like better than Direxion Daily PLTR Bull 2X Shares.

Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU - Get Free Report) traded up 1.6% during mid-day trading on Thursday . The company traded as high as $78.45 and last traded at $78.31. 2,526,882 shares changed hands during mid-day trading, a decline of 28% from the average session volume of 3,499,230 shares. The stock had previously closed at $77.07.

Direxion Daily PLTR Bull 2X Shares Price Performance

The stock's 50 day simple moving average is $79.34 and its 200-day simple moving average is $55.97.

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 issued a dividend of $0.3171 per share. This represents a $1.27 annualized dividend and a yield of 1.7%. This is a boost from Direxion Daily PLTR Bull 2X Shares's previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, June 24th.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PLTU. Bank of America Corp DE acquired a new position in Direxion Daily PLTR Bull 2X Shares during the fourth quarter valued at approximately $696,000. Diversify Wealth Management LLC acquired a new position in Direxion Daily PLTR Bull 2X Shares during the first quarter valued at approximately $281,000. Hollencrest Capital Management acquired a new position in Direxion Daily PLTR Bull 2X Shares during the first quarter valued at approximately $64,000. Belvedere Trading LLC acquired a new position in Direxion Daily PLTR Bull 2X Shares during the first quarter valued at approximately $337,000. Finally, Jump Financial LLC acquired a new position in Direxion Daily PLTR Bull 2X Shares during the first quarter valued at approximately $206,000.

Direxion Daily PLTR Bull 2X Shares Company Profile

(Get Free Report)

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.

Further Reading

Should You Invest $1,000 in Direxion Daily PLTR Bull 2X Shares Right Now?

Before you consider Direxion Daily PLTR Bull 2X Shares, you'll want to hear this.

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While Direxion Daily PLTR Bull 2X Shares currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

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