Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) Shares Down 8.7% – Should You Sell?

Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU)’s share price dropped 8.7% during trading on Friday . The company traded as low as $94.81 and last traded at $95.18. Approximately 1,190,739 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 3,277,792 shares. The stock had previously closed at $104.22.

Direxion Daily PLTR Bull 2X Shares Price Performance

The business has a 50-day moving average of $91.88 and a 200 day moving average of $67.10.

Direxion Daily PLTR Bull 2X Shares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd were given a $0.3624 dividend. This represents a $1.45 dividend on an annualized basis and a yield of 1.6%. 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.

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

Hedge funds have recently added to or reduced their stakes in the stock. Jump Financial LLC acquired a new position in Direxion Daily PLTR Bull 2X Shares during the 1st quarter valued at about $206,000. Belvedere Trading LLC acquired a new position in Direxion Daily PLTR Bull 2X Shares during the 1st quarter valued at about $337,000. Diversify Wealth Management LLC acquired a new position in Direxion Daily PLTR Bull 2X Shares during the 1st quarter valued at about $281,000. Hollencrest Capital Management acquired a new position in Direxion Daily PLTR Bull 2X Shares during the 1st quarter valued at about $64,000. Finally, Jane Street Group LLC acquired a new position in Direxion Daily PLTR Bull 2X Shares during the 1st quarter valued at about $245,000.

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.