Palantir Technologies stock was gaining on Friday on its plan to switch its listing to the Nasdaq stock exchange. Investors seem to be hoping the software company will gain from the stock getting added to the Nasdaq 100—and the funds being forced to buy its shares.

The change positions Palantir for entry into the Nasdaq 100 index, after it joined the S&P 500 several months back.

Palantir Technologies shares jumped Friday after the analytics software provider said it is shifting its listing to the Nasdaq from the New York Stock Exchange.

There have been few better stocks to own over the past three months than Palantir ( PLTR 1.42%). The stock more than doubled in that time, far outperforming both indexes and other market leaders. This performance can be traced to several events, notably Palantir's inclusion in the S&P 500 in September and its blowout Q3 earnings.

Palantir stock has jumped 244% in 2024 amid buzz over artificial intelligence. On Nov. 26, PLTR stock will begin trading on the Nasdaq.