Direxion Daily PLTR Bull 2X ETF (NASDAQ:PLTU) Shares Down 12.7% – Should You Sell?

Shares of Direxion Daily PLTR Bull 2X ETF (NASDAQ:PLTU) dropped 12.7% during trading on Friday. The stock traded as low as $52.04 and last traded at $53.03. 594,668 shares were traded during mid-day trading, a decline of 74% from the average session volume of 2,315,972 shares. The stock had previously closed at $60.73.

Direxion Daily PLTR Bull 2X ETF Stock Down 12.7%

The company has a fifty day simple moving average of $56.49 and a two-hundred day simple moving average of $45.25.

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

A number of hedge funds have recently made changes to their positions in the business. Turner Financial Group Inc. acquired a new stake in Direxion Daily PLTR Bull 2X ETF in the second quarter valued at approximately $317,000. Renaissance Technologies LLC acquired a new position in shares of Direxion Daily PLTR Bull 2X ETF during the first quarter worth approximately $682,000. Hoey Investments Inc. raised its position in shares of Direxion Daily PLTR Bull 2X ETF by 426.3% during the 3rd quarter. Hoey Investments Inc. now owns 4,000 shares of the company’s stock worth $225,000 after buying an additional 3,240 shares in the last quarter. Tactive Advisors LLC acquired a new stake in shares of Direxion Daily PLTR Bull 2X ETF in the third quarter valued at $377,000. Finally, Integrated Wealth Concepts LLC acquired a new position in Direxion Daily PLTR Bull 2X ETF in the second quarter worth approximately $49,000.

Direxion Daily PLTR Bull 2X ETF 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.