Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) Trading Down 7.2% - What's Next?

Key Points

• Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) saw a significant drop of 7.2% in its stock price, trading as low as $95.68 before recovering slightly to $97.13.
• The company recently declared an increased quarterly dividend of $0.3171 per share, up from the previous $0.11, resulting in an annualized dividend of $1.27 and a yield of 1.3%.
• Several institutional investors have recently taken positions in PLTU, including J.W. Cole Advisors Inc., which acquired shares valued at approximately $236,000.

Shares of Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU - ) were down 7.2% on Friday . The company traded as low as $95.68 and last traded at $97.13. Approximately 704,604 shares changed hands during trading, a decline of 80% from the average daily volume of 3,448,814 shares. The stock had previously closed at $104.64.

Direxion Daily PLTR Bull 2X Shares Stock Performance

The business has a 50 day moving average of $74.65 and a two-hundred day moving average of $52.77.

Direxion Daily PLTR Bull 2X Shares Increases Dividend

The company also recently declared 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 is an increase 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 yield of 1.3%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management acquired a new position in Direxion Daily PLTR Bull 2X Shares during the 1st quarter worth approximately $64,000. J.W. Cole Advisors Inc. bought a new position in shares of Direxion Daily PLTR Bull 2X Shares in the second quarter valued at approximately $236,000. Jump Financial LLC bought a new position in shares of Direxion Daily PLTR Bull 2X Shares in the first quarter valued at approximately $206,000. Jane Street Group LLC bought a new position in shares of Direxion Daily PLTR Bull 2X Shares in the first quarter valued at approximately $245,000. Finally, Diversify Wealth Management LLC bought a new position in shares of Direxion Daily PLTR Bull 2X Shares in the first quarter valued at approximately $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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