Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) Trading Down 7.2% - Here's Why

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.

Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU - Get Free Report)'s share price fell 7.2% during trading on Friday . The company traded as low as $95.68 and last traded at $97.13. 704,604 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 3,448,814 shares. The stock had previously closed at $104.64.

Direxion Daily PLTR Bull 2X Shares Stock Down 2.3%

The stock has a fifty day moving average price of $76.67 and a 200 day moving average price of $54.19.

Direxion Daily PLTR Bull 2X Shares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 24th were issued a $0.3171 dividend. This is a positive change from Direxion Daily PLTR Bull 2X Shares's previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, June 24th. This represents a $1.27 dividend on an annualized basis and a dividend yield of 1.7%.

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

A number of large investors have recently bought and sold shares of the business. Hollencrest Capital Management purchased a new position in Direxion Daily PLTR Bull 2X Shares during the 1st quarter valued at $64,000. J.W. Cole Advisors Inc. purchased a new position in Direxion Daily PLTR Bull 2X Shares during the 2nd quarter valued at $236,000. Diversify Wealth Management LLC boosted its holdings in 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 acquiring an additional 5,000 shares during the period. Jump Financial LLC purchased a new position in Direxion Daily PLTR Bull 2X Shares during the 1st quarter valued at $206,000. Finally, Jane Street Group LLC purchased a new position in 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.