Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) Stock Price Down 6% – Should You Sell?

Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU)’s share price dropped 6% during mid-day trading on Wednesday . The stock traded as low as $98.87 and last traded at $99.65. Approximately 875,182 shares were traded during trading, a decline of 72% from the average daily volume of 3,142,239 shares. The stock had previously closed at $106.06.

Direxion Daily PLTR Bull 2X Shares Price Performance

The business has a fifty day moving average price of $97.62 and a 200 day moving average price of $78.85.

Direxion Daily PLTR Bull 2X Shares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd were issued a dividend of $0.3624 per share. The ex-dividend date of this dividend was Tuesday, September 23rd. This is a positive change from Direxion Daily PLTR Bull 2X Shares’s previous quarterly dividend of $0.32. This represents a $1.45 annualized dividend and a dividend yield of 1.5%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Hollencrest Capital Management purchased a new stake in Direxion Daily PLTR Bull 2X Shares in the first quarter valued at approximately $64,000. Spire Wealth Management raised its position in Direxion Daily PLTR Bull 2X Shares by 84.7% in the 3rd quarter. Spire Wealth Management now owns 665 shares of the company’s stock valued at $68,000 after purchasing an additional 305 shares during the last quarter. Jump Financial LLC acquired a new stake in Direxion Daily PLTR Bull 2X Shares during the 1st quarter worth $206,000. OMNI 360 Wealth Inc. purchased a new position in Direxion Daily PLTR Bull 2X Shares during the 3rd quarter worth $224,000. Finally, J.W. Cole Advisors Inc. acquired a new position in Direxion Daily PLTR Bull 2X Shares in the second quarter valued at $236,000.

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.