Direxion Daily PLTR Bull 2X ETF (NASDAQ:PLTU) Stock Jumps 7% – Still a Buy?

Shares of Direxion Daily PLTR Bull 2X ETF (NASDAQ:PLTU) were up 7% during mid-day trading on Friday. The company traded as high as $67.80 and last traded at $67.7450. Approximately 605,712 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 2,446,969 shares. The stock had previously closed at $63.32.

Direxion Daily PLTR Bull 2X ETF Stock Up 6.9%

The company’s fifty day moving average is $51.37 and its two-hundred day moving average is $41.52.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PLTU. Turner Financial Group Inc. acquired a new position in Direxion Daily PLTR Bull 2X ETF in the second quarter valued at approximately $317,000. Virtu Financial LLC purchased a new stake in shares of Direxion Daily PLTR Bull 2X ETF during the 4th quarter worth approximately $1,356,000. Renaissance Technologies LLC acquired a new position in shares of Direxion Daily PLTR Bull 2X ETF in the 1st quarter valued at $682,000. Tactive Advisors LLC purchased a new position in shares of Direxion Daily PLTR Bull 2X ETF in the 3rd quarter valued at $377,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in Direxion Daily PLTR Bull 2X ETF during the 2nd quarter worth $49,000.

About Direxion Daily PLTR Bull 2X ETF

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.