Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) Sees Significant Decrease in Short Interest

Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) was the recipient of a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 10,002 shares, a drop of 64.9% from the May 14th total of 28,515 shares. Currently, 1.3% of the shares of the company are sold short. Based on an average trading volume of 221,957 shares, the short-interest ratio is presently 0.0 days.

Institutional Trading of Direxion Daily PANW Bull 2X Shares

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC grew its holdings in Direxion Daily PANW Bull 2X Shares by 128.6% during the first quarter. Parallel Advisors LLC now owns 4,000 shares of the company’s stock worth $50,000 after acquiring an additional 2,250 shares during the period. Optiver Holding B.V. grew its holdings in Direxion Daily PANW Bull 2X Shares by 17.5% during the first quarter. Optiver Holding B.V. now owns 43,171 shares of the company’s stock worth $544,000 after acquiring an additional 6,419 shares during the period. Finally, Goldman Sachs Group Inc. acquired a new stake in Direxion Daily PANW Bull 2X Shares during the first quarter worth about $502,000.

Direxion Daily PANW Bull 2X Shares Stock Performance

Direxion Daily PANW Bull 2X Shares stock traded down $0.05 during midday trading on Friday, hitting $35.35. 75,533 shares of the company were exchanged, compared to its average volume of 163,658. The firm has a market capitalization of $28.28 million, a PE ratio of 60.46 and a beta of 3.73. Direxion Daily PANW Bull 2X Shares has a fifty-two week low of $9.85 and a fifty-two week high of $42.05. The business has a fifty day simple moving average of $22.43 and a two-hundred day simple moving average of $18.39.

Direxion Daily PANW Bull 2X Shares Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were issued a dividend of $0.0618 per share. This represents a $0.25 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, March 24th.

About Direxion Daily PANW Bull 2X Shares

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.