Short Interest in Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) Decreases By 62.3%

Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) was the target of a significant decline in short interest in the month of May. As of May 29th, there was short interest totaling 701,561 shares, a decline of 62.3% from the May 14th total of 1,862,423 shares. Based on an average trading volume of 3,236,735 shares, the days-to-cover ratio is presently 0.2 days. Approximately 5.6% of the company’s shares are sold short.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Simplex Trading LLC acquired a new position in Direxion Daily PLTR Bull 2X Shares in the 4th quarter valued at approximately $58,000. Wealth Watch Advisors INC acquired a new position in Direxion Daily PLTR Bull 2X Shares in the 3rd quarter valued at approximately $111,000. Kestra Private Wealth Services LLC acquired a new position in Direxion Daily PLTR Bull 2X Shares in the 3rd quarter valued at approximately $205,000. Hoey Investments Inc. increased its stake in 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 buying an additional 1,810 shares during the period. Finally, Advisory Alpha LLC acquired a new position in Direxion Daily PLTR Bull 2X Shares in the 3rd quarter valued at approximately $383,000.

Direxion Daily PLTR Bull 2X Shares Stock Down 4.7%

Shares of PLTU stock traded down $1.55 during trading hours on Friday, reaching $31.28. 2,538,572 shares of the stock traded hands, compared to its average volume of 2,742,032. The business has a fifty day moving average price of $39.27 and a 200 day moving average price of $53.93. Direxion Daily PLTR Bull 2X Shares has a 1-year low of $30.60 and a 1-year high of $128.04.

Direxion Daily PLTR Bull 2X Shares Cuts Dividend

The business 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. This represents a $1.43 annualized dividend and a yield of 4.6%. The ex-dividend date 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.