Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) Shares Down 1.2% – Here’s Why

Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) shares dropped 1.2% on Tuesday . The stock traded as low as $12.17 and last traded at $12.59. Approximately 170,294 shares were traded during trading, an increase of 43% from the average daily volume of 119,256 shares. The stock had previously closed at $12.74.

Direxion Daily PANW Bull 2X Shares Stock Down 1.2%

The stock has a market cap of $12.34 million, a P/E ratio of 60.46 and a beta of -5.55. The firm’s 50-day moving average is $12.87 and its two-hundred day moving average is $18.78.

Direxion Daily PANW Bull 2X Shares Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were given a dividend of $0.0618 per share. This represents a $0.25 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Tuesday, March 24th.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. acquired a new stake in shares of Direxion Daily PANW Bull 2X Shares in the first quarter worth about $502,000. Optiver Holding B.V. increased its holdings in shares of Direxion Daily PANW Bull 2X Shares by 239.4% during the 3rd quarter. Optiver Holding B.V. now owns 51,428 shares of the company’s stock valued at $1,276,000 after acquiring an additional 36,274 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Direxion Daily PANW Bull 2X Shares by 677.8% in the 4th quarter. Parallel Advisors LLC now owns 1,750 shares of the company’s stock valued at $31,000 after acquiring an additional 1,525 shares in the last quarter.

Direxion Daily PANW Bull 2X Shares Company Profile

Direxion Shares ETF Trust – Direxion Daily PANW Bull 2X Shares is an exchange traded fund launched by Direxion Investments. The fund is managed by Rafferty Asset Management, LLC. It invests in public equity markets. The fund invests through derivatives in stocks of companies operating across information technology, software and services sectors. It uses derivatives such as swaps and options to create its portfolio. The fund invests in growth and value stocks of companies across diversified market capitalization.