Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) Trading 6.9% Higher - Time to Buy?

Key Points

• Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) experienced a 6.9% increase in trading, reaching a last traded price of $89.86.
• The company recently raised its quarterly dividend to $0.3171, up from $0.11, resulting in an annualized dividend of $1.27 and a yield of 1.4%.
• Notable hedge funds, including Jane Street Group LLC and Diversify Wealth Management LLC, have increased their positions in the stock during the first and second quarters.

Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU - Get Free Report) shares shot up 6.9% during mid-day trading on Friday . The stock traded as high as $89.94 and last traded at $89.86. 1,588,138 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 3,427,206 shares. The stock had previously closed at $84.06.

Direxion Daily PLTR Bull 2X Shares Price Performance

The company has a 50 day moving average price of $83.38 and a 200 day moving average price of $58.50.

Direxion Daily PLTR Bull 2X Shares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 24th were paid a dividend of $0.3171 per share. This represents a $1.27 dividend on an annualized basis and a dividend yield of 1.4%. 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.

Institutional Trading of Direxion Daily PLTR Bull 2X Shares

A number of institutional investors have recently modified their holdings of PLTU. Bank of America Corp DE bought a new stake in Direxion Daily PLTR Bull 2X Shares during the fourth quarter worth about $696,000. Diversify Wealth Management LLC acquired a new stake in Direxion Daily PLTR Bull 2X Shares during the first quarter worth approximately $281,000. Hollencrest Capital Management acquired a new stake in shares of Direxion Daily PLTR Bull 2X Shares in the 1st quarter valued at $64,000. Belvedere Trading LLC bought a new stake in Direxion Daily PLTR Bull 2X Shares during the 1st quarter worth approximately $337,000. Finally, Jump Financial LLC bought a new position in Direxion Daily PLTR Bull 2X Shares during the 1st quarter worth $206,000.

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.