Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) Trading Up 10.5% - Should You Buy?

Key Points

• Up 10.5%: Direxion Daily PLTR Bull 2X Shares (PLTU) jumped 10.5% Monday to an intraday high of $54.04 and last traded at $53.47 on 640,872 shares, about 72% below its average daily volume of 2.25 million.
• Technical picture: the ETF's 50-day moving average is $50.64 while its 200-day moving average is $76.24, so the current price sits above the short-term trend but well below the longer-term average.
• Fund profile and flows: PLTU, launched Dec. 11, 2024 by Direxion, provides 2x leveraged exposure to daily moves in Palantir (PLTR) and has seen several small institutional investors initiate or increase positions recently.

Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU - ) shares shot up 10.5% on Monday . The stock traded as high as $54.04 and last traded at $53.47. 640,872 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 2,250,786 shares. The stock had previously closed at $48.38.

Direxion Daily PLTR Bull 2X Shares Stock Performance

The stock's 50-day moving average is $50.64 and its 200-day moving average is $76.24.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PLTU. Simplex Trading LLC acquired a new position in shares of Direxion Daily PLTR Bull 2X Shares during the fourth quarter worth approximately $58,000. Spire Wealth Management raised its holdings in Direxion Daily PLTR Bull 2X Shares by 84.7% in the third quarter. Spire Wealth Management now owns 665 shares of the company's stock worth $68,000 after purchasing an additional 305 shares during the period. Wealth Watch Advisors INC acquired a new position in shares of Direxion Daily PLTR Bull 2X Shares in the 3rd quarter valued at $111,000. Kestra Private Wealth Services LLC bought a new stake in shares of Direxion Daily PLTR Bull 2X Shares in the third quarter worth about $205,000. Finally, OMNI 360 Wealth Inc. acquired a new stake in shares of Direxion Daily PLTR Bull 2X Shares during the third quarter worth about $224,000.

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.

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