Trump Media & Technology Group (NASDAQ:DJT) Stock Sees Heavy Call Option Buying

Trump Media & Technology Group Corp. (NASDAQ:DJT) saw unusually large options trading activity on Monday. Investors acquired 23,596 call options on the stock. This is an increase of 27% compared to the average daily volume of 18,511 call options.

Hedge Funds Weigh In On Trump Media & Technology Group

Several institutional investors have recently made changes to their positions in the stock. Nykredit A S bought a new stake in shares of Trump Media & Technology Group in the 2nd quarter worth approximately $31,000. Global Assets Advisory LLC acquired a new stake in Trump Media & Technology Group in the first quarter worth $34,000. Root Financial Partners LLC increased its position in Trump Media & Technology Group by 44,011.1% in the first quarter. Root Financial Partners LLC now owns 3,970 shares of the company’s stock worth $37,000 after buying an additional 3,961 shares during the period. Farther Finance Advisors LLC lifted its position in Trump Media & Technology Group by 55.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,734 shares of the company’s stock valued at $43,000 after purchasing an additional 1,691 shares during the last quarter. Finally, Strategic Wealth Partners Ltd. lifted its position in Trump Media & Technology Group by 60.1% in the 2nd quarter. Strategic Wealth Partners Ltd. now owns 6,660 shares of the company’s stock valued at $52,000 after purchasing an additional 2,500 shares during the last quarter. 4.29% of the stock is owned by institutional investors.

Trump Media & Technology Group Stock Up 1.3%

Shares of NASDAQ:DJT opened at $5.66 on Tuesday. Trump Media & Technology Group has a fifty-two week low of $5.40 and a fifty-two week high of $17.09. The firm has a 50-day simple moving average of $8.22 and a 200 day simple moving average of $9.31.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DJT. Wall Street Zen lowered Trump Media & Technology Group from a “sell” rating to a “strong sell” rating in a research report on Sunday. Weiss Ratings cut Trump Media & Technology Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, September 2nd. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

About Trump Media & Technology Group

Trump Media & Technology Group Corp. is a media and technology company focused on developing social media, streaming and other digital services. Its principal platform is Truth Social, a social networking service that enables users to create posts, follow accounts and participate in online discussions.

The company also operates Truth+, a streaming platform offering video content, including news and entertainment programming. TMTG has additionally announced plans to develop Truth.Fi, a financial services and technology initiative intended to include products such as separately managed accounts, exchange-traded funds and other investment-related offerings.