Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) Sees Large Increase in Short Interest

Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) saw a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 1,035,093 shares, a growth of 45.4% from the February 26th total of 711,810 shares. Based on an average daily trading volume, of 2,842,804 shares, the days-to-cover ratio is presently 0.4 days. Currently, 10.3% of the shares of the stock are short sold.

Direxion Daily PLTR Bull 2X Shares Price Performance

Shares of PLTU stock traded down $2.88 during midday trading on Friday, reaching $42.78. 713,770 shares of the company traded hands, compared to its average volume of 2,196,810. The firm’s 50 day simple moving average is $48.31 and its two-hundred day simple moving average is $75.26. Direxion Daily PLTR Bull 2X Shares has a 1-year low of $16.61 and a 1-year high of $128.04.

Direxion Daily PLTR Bull 2X Shares Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th will be issued a $0.3584 dividend. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a $1.43 annualized dividend and a yield of 3.4%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PLTU. UBS Group AG grew its stake in Direxion Daily PLTR Bull 2X Shares by 102,945.7% in the 3rd quarter. UBS Group AG now owns 203,000 shares of the company’s stock valued at $20,676,000 after acquiring an additional 202,803 shares during the last quarter. J.W. Cole Advisors Inc. acquired a new position in Direxion Daily PLTR Bull 2X Shares during the second quarter worth about $236,000. TRUE Private Wealth Advisors purchased a new stake in shares of Direxion Daily PLTR Bull 2X Shares in the third quarter valued at about $1,164,000. Diversify Wealth Management LLC grew its position in shares of Direxion Daily PLTR Bull 2X Shares by 50.0% in the second 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 during the last quarter. Finally, Ausdal Financial Partners Inc. increased its stake in shares of Direxion Daily PLTR Bull 2X Shares by 52.0% during the 4th quarter. Ausdal Financial Partners Inc. now owns 6,955 shares of the company’s stock worth $511,000 after purchasing an additional 2,380 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.