Direxion Daily PANW Bear 1X Shares (NASDAQ:PALD) Sees Significant Drop in Short Interest

Direxion Daily PANW Bear 1X Shares (NASDAQ:PALD) was the recipient of a significant decline in short interest during the month of July. As of July 31st, there was short interest totaling 3,647 shares, a decline of 71.8% from the July 15th total of 12,911 shares. Currently, 1.8% of the company’s stock are sold short. Based on an average trading volume of 39,443 shares, the days-to-cover ratio is presently 0.1 days.

Direxion Daily PANW Bear 1X Shares Price Performance

PALD stock opened at $9.99 on Thursday. The firm has a 50 day moving average of $12.53 and a two-hundred day moving average of $20.03. Direxion Daily PANW Bear 1X Shares has a 12 month low of $9.96 and a 12 month high of $30.87.

Direxion Daily PANW Bear 1X Shares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were issued a $0.0347 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $0.14 dividend on an annualized basis and a yield of 1.4%.

Hedge Funds Weigh In On Direxion Daily PANW Bear 1X Shares

Several institutional investors have recently bought and sold shares of the stock. Optiver Holding B.V. lifted its position in shares of Direxion Daily PANW Bear 1X Shares by 60.0% in the first quarter. Optiver Holding B.V. now owns 27,598 shares of the company’s stock worth $735,000 after buying an additional 10,350 shares during the last quarter. Susquehanna International Group LLP acquired a new position in shares of Direxion Daily PANW Bear 1X Shares during the 3rd quarter valued at about $458,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Direxion Daily PANW Bear 1X Shares during the 1st quarter valued at about $693,000.

Direxion Daily PANW Bear 1X Shares Company Profile

Direxion Shares ETF Trust – Direxion Daily PANW Bear 1X 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 employs short strategy and 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.