Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) Short Interest Up 16.6% in April

Key Points

• Short interest rose 16.6% in April to 823,325 shares (about 6.5% of the float) with a days-to-cover of 0.2 based on average daily volume.
• Several institutions built or added to positions—Spire Wealth Management increased its stake by 84.7% and Hoey Investments boosted holdings by 724%, while Simplex Trading, Wealth Watch Advisors and Kestra opened new stakes.
• PLTU opened at $38.30 with a 50‑day/200‑day moving average of $44.37/$66.39 and a 52‑week range of $30.71–$128.04; the fund paid a quarterly dividend of $0.3584 (annualized $1.43) for a ~3.7% yield.

Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU - ) was the recipient of a large growth in short interest in April. As of April 15th, there was short interest totaling 823,325 shares, a growth of 16.6% from the March 31st total of 705,984 shares. Based on an average trading volume of 3,584,343 shares, the days-to-cover ratio is presently 0.2 days. Currently, 6.5% of the company's stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Spire Wealth Management increased its position in Direxion Daily PLTR Bull 2X Shares by 84.7% during the third quarter. Spire Wealth Management now owns 665 shares of the company's stock worth $68,000 after buying an additional 305 shares during the period. Simplex Trading LLC acquired a new stake in shares of Direxion Daily PLTR Bull 2X Shares in the fourth quarter valued at approximately $58,000. Wealth Watch Advisors INC purchased a new position in shares of Direxion Daily PLTR Bull 2X Shares during the third quarter worth approximately $111,000. Kestra Private Wealth Services LLC acquired a new position in shares of Direxion Daily PLTR Bull 2X Shares in the 3rd quarter valued at $205,000. Finally, Hoey Investments Inc. increased its holdings in shares of Direxion Daily PLTR Bull 2X Shares by 724.0% in the 1st quarter. Hoey Investments Inc. now owns 2,060 shares of the company's stock valued at $92,000 after acquiring an additional 1,810 shares during the period.

Direxion Daily PLTR Bull 2X Shares Stock Performance

NASDAQ PLTU opened at $38.30 on Thursday. The company has a fifty day moving average of $44.37 and a two-hundred day moving average of $66.39. Direxion Daily PLTR Bull 2X Shares has a 1 year low of $30.71 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 was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were issued a $0.3584 dividend. This represents a $1.43 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, March 24th.

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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