Short Interest in Direxion Daily PANW Bear 1X ETF (NASDAQ:PALD) Drops By 93.5%

Direxion Daily PANW Bear 1X ETF (NASDAQ:PALD) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totaling 630 shares, a decline of 93.5% from the August 15th total of 9,660 shares. Based on an average daily volume of 70,691 shares, the short-interest ratio is presently 0.0 days. Currently, 0.3% of the shares of the stock are sold short.

Direxion Daily PANW Bear 1X ETF Stock Performance

NASDAQ PALD traded up $0.25 on Friday, reaching $11.49. 26,158 shares of the stock traded hands, compared to its average volume of 35,917. The firm’s fifty day simple moving average is $11.24 and its 200 day simple moving average is $17.74. Direxion Daily PANW Bear 1X ETF has a 12 month low of $9.85 and a 12 month high of $30.87.

Institutional Inflows and Outflows

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

Direxion Daily PANW Bear 1X ETF 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.