Direxion Daily PANW Bull 2X ETF (NASDAQ:PALU) Shares Down 3.4% – Here’s Why

Direxion Daily PANW Bull 2X ETF (NASDAQ:PALU)’s stock price fell 3.4% during mid-day trading on Tuesday. The company traded as low as $61.71 and last traded at $61.71. Approximately 68,726 shares traded hands during trading, a decline of 53% from the average session volume of 144,706 shares. The stock had previously closed at $63.88.

Direxion Daily PANW Bull 2X ETF Price Performance

The company has a market cap of $32.07 million, a PE ratio of 60.46 and a beta of 3.25. The stock has a fifty day moving average price of $57.00 and a 200-day moving average price of $41.05.

Institutional Investors Weigh In On Direxion Daily PANW Bull 2X ETF

An institutional investor recently raised its position in Direxion Daily PANW Bull 2X ETF stock. Parallel Advisors LLC grew its holdings in Direxion Daily PANW Bull 2X ETF (NASDAQ:PALU) by 128.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,000 shares of the company’s stock after purchasing an additional 2,250 shares during the quarter. Parallel Advisors LLC owned approximately 0.50% of Direxion Daily PANW Bull 2X ETF worth $50,000 at the end of the most recent reporting period.

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.