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

Direxion Daily PANW Bear 1X Shares (NASDAQ:PALD) saw a significant growth in short interest in August. As of August 14th, there was short interest totaling 9,660 shares, a growth of 164.9% from the July 30th total of 3,647 shares. Based on an average daily volume of 106,166 shares, the short-interest ratio is currently 0.1 days. Currently, 4.8% of the company’s stock are sold short.

Direxion Daily PANW Bear 1X Shares Stock Performance

Direxion Daily PANW Bear 1X Shares stock opened at $10.34 on Friday. Direxion Daily PANW Bear 1X Shares has a fifty-two week low of $9.85 and a fifty-two week high of $30.87. The firm’s 50-day simple moving average is $11.57 and its 200 day simple moving average is $18.85.

Direxion Daily PANW Bear 1X Shares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were given a dividend of $0.0347 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.14 annualized dividend and a dividend yield of 1.3%.

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

A number of hedge funds and other institutional investors have recently modified their holdings of PALD. Optiver Holding B.V. increased its position in shares of Direxion Daily PANW Bear 1X Shares by 60.0% during the first quarter. Optiver Holding B.V. now owns 27,598 shares of the company’s stock valued at $735,000 after acquiring an additional 10,350 shares during the last quarter. Goldman Sachs Group Inc. bought a new stake in Direxion Daily PANW Bear 1X Shares during the first quarter worth $693,000. Finally, Susquehanna International Group LLP purchased a new position in Direxion Daily PANW Bear 1X Shares in the third quarter worth $458,000.

About Direxion Daily PANW Bear 1X Shares

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.