Short Interest in Direxion Daily PANW Bull 2X ETF (NASDAQ:PALU) Rises By 72.4%

Direxion Daily PANW Bull 2X ETF (NASDAQ:PALU) saw a significant growth in short interest in August. As of August 31st, there was short interest totaling 30,366 shares, a growth of 72.4% from the August 15th total of 17,614 shares. Currently, 5.3% of the company’s stock are sold short. Based on an average daily trading volume, of 93,344 shares, the short-interest ratio is presently 0.3 days.

Direxion Daily PANW Bull 2X ETF Stock Down 0.7%

Shares of NASDAQ PALU traded down $0.37 during mid-day trading on Thursday, reaching $56.41. 124,873 shares of the company were exchanged, compared to its average volume of 148,937. Direxion Daily PANW Bull 2X ETF has a 1 year low of $9.85 and a 1 year high of $67.86. The firm has a 50-day moving average of $52.67 and a 200 day moving average of $34.62. The stock has a market cap of $56.35 million, a price-to-earnings ratio of 60.46 and a beta of 3.24.

Institutional Trading of Direxion Daily PANW Bull 2X ETF

A hedge fund recently raised its position in Direxion Daily PANW Bull 2X ETF stock. Parallel Advisors LLC lifted its position in Direxion Daily PANW Bull 2X ETF (NASDAQ:PALU) by 128.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,000 shares of the company’s stock after buying an additional 2,250 shares during the period. Parallel Advisors LLC owned approximately 0.50% of Direxion Daily PANW Bull 2X ETF worth $50,000 as of its most recent SEC filing.

Direxion Daily PANW Bull 2X ETF 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.