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

Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) was the target of a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 1,629 shares, a drop of 45.5% from the July 15th total of 2,988 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average trading volume of 98,965 shares, the days-to-cover ratio is currently 0.0 days.

Direxion Daily PANW Bull 2X Shares Stock Performance

Shares of Direxion Daily PANW Bull 2X Shares stock traded down $2.87 during trading hours on Monday, hitting $60.10. The company’s stock had a trading volume of 93,161 shares, compared to its average volume of 148,461. The business has a 50 day moving average price of $47.70 and a two-hundred day moving average price of $28.08. Direxion Daily PANW Bull 2X Shares has a 12-month low of $9.85 and a 12-month high of $67.86. The company has a market cap of $34.26 million, a PE ratio of 60.46 and a beta of 3.19.

Direxion Daily PANW Bull 2X Shares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were paid a dividend of $0.1182 per share. This represents a $0.47 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 23rd.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PALU. Optiver Holding B.V. boosted its stake in Direxion Daily PANW Bull 2X Shares by 17.5% in the 1st quarter. Optiver Holding B.V. now owns 43,171 shares of the company’s stock worth $544,000 after purchasing an additional 6,419 shares during the period. Goldman Sachs Group Inc. bought a new stake in shares of Direxion Daily PANW Bull 2X Shares during the first quarter valued at approximately $502,000. Finally, Parallel Advisors LLC raised its position in shares of 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 valued at $50,000 after buying an additional 2,250 shares during the last quarter.

Direxion Daily PANW Bull 2X Shares 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.