Short Interest in Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) Increases By 45.4%

Key Points

• Short interest in Direxion Daily PLTR Bull 2X Shares rose 45.4% in March to 1,035,093 shares, equal to about 10.3% of the fund sold short and a short‑interest ratio of 0.4 days.
• PLTU shares fell 6.3% to $42.78 on Friday, trading below its 50‑ and 200‑day moving averages amid lighter volume.
• The fund declared a quarterly dividend of $0.3584 per share (annualized $1.43, yield 3.4%, ex‑dividend March 24) and is a 2x leveraged ETF that provides daily exposure to Palantir (PLTR), launched Dec. 11, 2024.

Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU - ) saw a large 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 trading volume of 2,842,804 shares, the short-interest ratio is presently 0.4 days. Approximately 10.3% of the company's stock are sold short.

Institutional Investors Weigh In On Direxion Daily PLTR Bull 2X Shares

Hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new position in Direxion Daily PLTR Bull 2X Shares during the 1st quarter valued at about $245,000. J.W. Cole Advisors Inc. purchased a new stake in shares of Direxion Daily PLTR Bull 2X Shares in the second quarter worth approximately $236,000. Diversify Wealth Management LLC raised its stake 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 worth $921,000 after purchasing an additional 5,000 shares during the last quarter. OMNI 360 Wealth Inc. bought a new position in shares of Direxion Daily PLTR Bull 2X Shares in the third quarter valued at approximately $224,000. Finally, Spire Wealth Management lifted its holdings in shares of Direxion Daily PLTR Bull 2X Shares by 84.7% in the third quarter. Spire Wealth Management now owns 665 shares of the company's stock valued at $68,000 after purchasing an additional 305 shares in the last quarter.

Direxion Daily PLTR Bull 2X Shares Stock Down 6.3%

NASDAQ PLTU traded down $2.88 on Friday, hitting $42.78. 713,770 shares of the company were exchanged, compared to its average volume of 2,196,810. The stock has a fifty day moving average of $48.31 and a 200-day moving average of $75.31. Direxion Daily PLTR Bull 2X Shares has a 12 month low of $16.61 and a 12 month high of $128.04.

Direxion Daily PLTR Bull 2X Shares Cuts Dividend

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