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

Shares of Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) dropped 6% on Wednesday . The stock traded as low as $98.87 and last traded at $99.65. Approximately 875,182 shares changed hands during mid-day 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 Stock Down 7.1%

The stock 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 announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd were issued a $0.3624 dividend. 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 Investors Weigh In On Direxion Daily PLTR Bull 2X Shares

Institutional investors have recently made changes to their positions in the stock. Spire Wealth Management grew its stake in shares of Direxion Daily PLTR Bull 2X Shares by 84.7% during the 3rd quarter. Spire Wealth Management now owns 665 shares of the company’s stock worth $68,000 after purchasing an additional 305 shares during the period. OMNI 360 Wealth Inc. purchased a new stake in shares of Direxion Daily PLTR Bull 2X Shares during the 3rd quarter worth approximately $224,000. Hollencrest Capital Management acquired a new stake in shares of Direxion Daily PLTR Bull 2X Shares in the 1st quarter worth approximately $64,000. J.W. Cole Advisors Inc. acquired a new stake in shares of Direxion Daily PLTR Bull 2X Shares in the 2nd quarter worth approximately $236,000. Finally, Diversify Wealth Management LLC increased its stake in Direxion Daily PLTR Bull 2X Shares by 50.0% in the 2nd quarter. Diversify Wealth Management LLC now owns 15,000 shares of the company’s stock valued at $921,000 after purchasing an additional 5,000 shares in the last quarter.

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.