Direxion Daily PLTR Bull 2X ETF (NASDAQ:PLTU) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Direxion Daily PLTR Bull 2X ETF (NASDAQ:PLTU)’s stock price crossed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $44.73 and traded as low as $35.82. Direxion Daily PLTR Bull 2X ETF shares last traded at $36.99, with a volume of 966,769 shares trading hands.

Direxion Daily PLTR Bull 2X ETF Trading Down 19.6%

The firm’s 50 day moving average price is $55.97 and its two-hundred day moving average price is $44.73.

Institutional Trading of Direxion Daily PLTR Bull 2X ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. StoneX Group Inc. purchased a new stake in Direxion Daily PLTR Bull 2X ETF during the 3rd quarter valued at approximately $2,465,000. Renaissance Technologies LLC acquired a new stake in Direxion Daily PLTR Bull 2X ETF during the 1st quarter worth approximately $682,000. Optiver Holding B.V. grew its stake in shares of Direxion Daily PLTR Bull 2X ETF by 96.2% in the 1st quarter. Optiver Holding B.V. now owns 12,658 shares of the company’s stock valued at $563,000 after purchasing an additional 6,205 shares during the last quarter. Tactive Advisors LLC purchased a new position in shares of Direxion Daily PLTR Bull 2X ETF in the 3rd quarter valued at approximately $377,000. Finally, Turner Financial Group Inc. purchased a new position in shares of Direxion Daily PLTR Bull 2X ETF in the 2nd quarter valued at approximately $317,000.

About Direxion Daily PLTR Bull 2X ETF

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.