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

Direxion Daily PLTR Bull 2X Shares (NASDAQ:PLTU) was the recipient of a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 844,252 shares, a growth of 105.5% from the January 29th total of 410,908 shares. Approximately 8.4% of the shares of the stock are sold short. Based on an average daily volume of 4,172,985 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 4,172,985 shares, the days-to-cover ratio is currently 0.2 days. Approximately 8.4% of the shares of the stock are sold short.

Direxion Daily PLTR Bull 2X Shares Stock Performance

NASDAQ:PLTU traded up $0.71 during mid-day trading on Friday, reaching $40.67. The stock had a trading volume of 1,502,672 shares, compared to its average volume of 2,316,923. The firm has a 50 day moving average price of $59.09 and a two-hundred day moving average price of $79.86. Direxion Daily PLTR Bull 2X Shares has a one year low of $16.61 and a one year high of $128.04.

Direxion Daily PLTR Bull 2X Shares Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 23rd were issued a $0.5578 dividend. This represents a $2.23 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date was Tuesday, December 23rd.

Hedge Funds Weigh In On Direxion Daily PLTR Bull 2X Shares

A number of large investors have recently added to or reduced their stakes in PLTU. UBS Group AG lifted its stake in Direxion Daily PLTR Bull 2X Shares by 1.7% in the fourth quarter. UBS Group AG now owns 206,535 shares of the company’s stock worth $15,189,000 after purchasing an additional 3,535 shares during the last quarter. Diversify Wealth Management LLC lifted its stake in shares of Direxion Daily PLTR Bull 2X Shares by 33.4% in the 4th quarter. Diversify Wealth Management LLC now owns 20,009 shares of the company’s stock valued at $1,475,000 after acquiring an additional 5,009 shares during the last quarter. Virtu Financial LLC purchased a new stake in Direxion Daily PLTR Bull 2X Shares during the 4th quarter valued at about $1,356,000. Flow Traders U.S. LLC bought a new position in Direxion Daily PLTR Bull 2X Shares during the 3rd quarter worth approximately $1,733,000. Finally, TRUE Private Wealth Advisors purchased a new position in Direxion Daily PLTR Bull 2X Shares in the 3rd quarter worth approximately $1,164,000.

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.