Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) Short Interest Down 31.8% in March

Key Points

• Short interest fell 31.8% in March to 705,984 shares from 1,035,093 on March 15, leaving a short-interest ratio of 0.7 days and about 7.1% of shares short.
• Institutional interest rose as several firms initiated or expanded positions in PLTU, including Jane Street, SBI Securities (≈$1.09M stake) and Diversify Wealth Management (now 15,000 shares, ≈$921k).
• Price and dividend update: PLTU traded up 6.7% to $38.19 on heavy volume and paid a quarterly dividend of $0.3584 (annualized $1.43, ~3.8% yield).

Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU - ) was the recipient of a large drop in short interest in March. As of March 31st, there was short interest totaling 705,984 shares, a drop of 31.8% from the March 15th total of 1,035,093 shares. Based on an average daily volume of 1,085,349 shares, the short-interest ratio is currently 0.7 days. Approximately 7.1% of the shares of the stock are short sold.

Institutional Trading of Direxion Daily PLTR Bull 2X Shares

A number of large investors have recently made changes to their positions in PLTU. Jane Street Group LLC bought a new position in Direxion Daily PLTR Bull 2X Shares in the first quarter valued at approximately $245,000. Diversify Wealth Management LLC raised its holdings in shares of Direxion Daily PLTR Bull 2X Shares by 50.0% during the second quarter. Diversify Wealth Management LLC now owns 15,000 shares of the company's stock worth $921,000 after acquiring an additional 5,000 shares during the period. OMNI 360 Wealth Inc. bought a new stake in Direxion Daily PLTR Bull 2X Shares in the 3rd quarter valued at $224,000. Spire Wealth Management boosted its stake in Direxion Daily PLTR Bull 2X Shares by 84.7% in 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. Finally, SBI Securities Co. Ltd. bought a new position in Direxion Daily PLTR Bull 2X Shares during the 3rd quarter worth about $1,087,000.

Direxion Daily PLTR Bull 2X Shares Stock Up 6.7%

NASDAQ:PLTU traded up $2.39 during mid-day trading on Tuesday, reaching $38.19. 2,980,522 shares of the company were exchanged, compared to its average volume of 2,334,864. Direxion Daily PLTR Bull 2X Shares has a 12 month low of $29.34 and a 12 month high of $128.04. The company has a fifty day moving average of $44.29 and a 200 day moving average of $71.06.

Direxion Daily PLTR Bull 2X Shares Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were paid a $0.3584 dividend. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $1.43 dividend on an annualized basis and a yield of 3.8%.

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.

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