Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) Trading Down 10.6% – Should You Sell?

Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU)’s share price were down 10.6% during mid-day trading on Thursday . The stock traded as low as $41.72 and last traded at $42.19. Approximately 1,163,282 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 2,380,834 shares. The stock had previously closed at $47.20.

Direxion Daily PLTR Bull 2X Shares Stock Down 14.6%

The firm has a fifty day moving average of $44.15 and a 200-day moving average of $68.46.

Direxion Daily PLTR Bull 2X Shares Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were issued a $0.3584 dividend. The ex-dividend date was Tuesday, March 24th. This represents a $1.43 annualized dividend and a yield of 3.6%.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PLTU. Simplex Trading LLC bought a new position in Direxion Daily PLTR Bull 2X Shares during the fourth quarter worth about $58,000. Spire Wealth Management boosted its holdings in Direxion Daily PLTR Bull 2X Shares by 84.7% during the third quarter. Spire Wealth Management now owns 665 shares of the company’s stock worth $68,000 after buying an additional 305 shares during the last quarter. Wealth Watch Advisors INC bought a new position in Direxion Daily PLTR Bull 2X Shares during the third quarter worth about $111,000. Kestra Private Wealth Services LLC bought a new position in Direxion Daily PLTR Bull 2X Shares during the third quarter worth about $205,000. Finally, OMNI 360 Wealth Inc. bought a new position in Direxion Daily PLTR Bull 2X Shares during the third quarter worth about $224,000.

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.