Short Interest in Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) Drops By 60.3%

Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) was the target of a large decline in short interest in the month of April. As of April 30th, there was short interest totaling 62,634 shares, a decline of 60.3% from the April 15th total of 157,733 shares. Based on an average trading volume of 98,961 shares, the short-interest ratio is presently 0.6 days. Currently, 7.8% of the company’s shares are short sold.

Direxion Daily PANW Bull 2X Shares Stock Performance

Shares of NASDAQ PALU traded up $1.03 during trading on Friday, hitting $27.58. 100,569 shares of the company were exchanged, compared to its average volume of 116,561. Direxion Daily PANW Bull 2X Shares has a 12-month low of $9.85 and a 12-month high of $29.55. The company has a fifty day moving average price of $15.01 and a 200-day moving average price of $17.54. The firm has a market capitalization of $22.06 million, a PE ratio of 60.46 and a beta of 1.60.

Direxion Daily PANW Bull 2X Shares Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were given a dividend of $0.0618 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, March 24th.

Institutional Trading of Direxion Daily PANW Bull 2X Shares

Hedge funds and other institutional investors have recently modified their holdings of the business. Parallel Advisors LLC increased its position in shares of Direxion Daily PANW Bull 2X Shares by 677.8% during the 4th quarter. Parallel Advisors LLC now owns 1,750 shares of the company’s stock worth $31,000 after purchasing an additional 1,525 shares during the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Direxion Daily PANW Bull 2X Shares during the 1st quarter worth about $502,000. Finally, Optiver Holding B.V. increased its position in shares of Direxion Daily PANW Bull 2X Shares by 239.4% during the 3rd quarter. Optiver Holding B.V. now owns 51,428 shares of the company’s stock worth $1,276,000 after purchasing an additional 36,274 shares during the last quarter.

About Direxion Daily PANW Bull 2X Shares

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.