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 large drop in short interest in May. As of May 29th, there was short interest totaling 701,561 shares, a drop of 62.3% from the May 14th total of 1,862,423 shares. Approximately 5.6% of the shares of the stock are short sold. Based on an average trading volume of 3,236,735 shares, the days-to-cover ratio is presently 0.2 days.

Direxion Daily PLTR Bull 2X Shares Stock Performance

Shares of PLTU traded down $1.55 during trading hours on Friday, hitting $31.28. 2,538,572 shares of the company were exchanged, compared to its average volume of 2,742,032. The firm has a fifty day simple moving average of $39.27 and a 200-day simple moving average of $53.93. Direxion Daily PLTR Bull 2X Shares has a one year low of $30.60 and a one year high of $128.04.

Direxion Daily PLTR Bull 2X Shares Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were issued a dividend of $0.3584 per share. The ex-dividend date was Tuesday, March 24th. This represents a $1.43 dividend on an annualized basis and a dividend yield of 4.6%.

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

A number of large investors have recently made changes to their positions in the company. UBS Group AG raised its holdings in shares of Direxion Daily PLTR Bull 2X Shares by 1.7% during the fourth quarter. UBS Group AG now owns 206,535 shares of the company’s stock valued at $15,189,000 after acquiring an additional 3,535 shares during the period. Diversify Wealth Management LLC raised its holdings in shares of Direxion Daily PLTR Bull 2X Shares by 33.4% during the fourth 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 period. Virtu Financial LLC acquired a new stake in shares of Direxion Daily PLTR Bull 2X Shares during the fourth quarter valued at approximately $1,356,000. Flow Traders U.S. LLC acquired a new stake in shares of Direxion Daily PLTR Bull 2X Shares during the third quarter valued at approximately $1,733,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Direxion Daily PLTR Bull 2X Shares during the first quarter valued at approximately $682,000.

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.