Direxion Daily PANW Bear 1X ETF (NASDAQ:PALD) Share Price Crosses Above Fifty Day Moving Average – Time to Sell?

Direxion Daily PANW Bear 1X ETF (NASDAQ:PALD)’s stock price crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $10.04 and traded as high as $10.25. Direxion Daily PANW Bear 1X ETF shares last traded at $10.23, with a volume of 173,246 shares trading hands.

Direxion Daily PANW Bear 1X ETF Stock Up 4.0%

The firm’s 50 day moving average is $10.04 and its 200-day moving average is $17.34.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Direxion Daily PANW Bear 1X ETF stock. Optiver Holding B.V. grew its position in Direxion Daily PANW Bear 1X ETF (NASDAQ:PALD) by 60.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 27,598 shares of the company’s stock after acquiring an additional 10,350 shares during the period. Optiver Holding B.V. owned about 27.60% of Direxion Daily PANW Bear 1X ETF worth $735,000 at the end of the most recent quarter.

About Direxion Daily PANW Bear 1X ETF

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.