Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) Short Interest Down 60.6% in July

Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) was the target of a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 2,988 shares, a drop of 60.6% from the June 30th total of 7,582 shares. Based on an average daily volume of 102,429 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.5% of the shares of the stock are sold short.

Direxion Daily PANW Bull 2X Shares Price Performance

Shares of NASDAQ:PALU opened at $45.53 on Monday. The firm has a fifty day simple moving average of $41.09 and a two-hundred day simple moving average of $24.22. Direxion Daily PANW Bull 2X Shares has a 52 week low of $9.85 and a 52 week high of $59.63. The stock has a market capitalization of $25.95 million, a P/E ratio of 60.46 and a beta of 3.04.

Direxion Daily PANW Bull 2X Shares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were issued a $0.1182 dividend. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.47 dividend on an annualized basis and a dividend yield of 1.0%.

Hedge Funds Weigh In On Direxion Daily PANW Bull 2X Shares

Institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. purchased a new stake in Direxion Daily PANW Bull 2X Shares during the 1st quarter valued at $502,000. Optiver Holding B.V. lifted its position in Direxion Daily PANW Bull 2X Shares by 17.5% in the first quarter. Optiver Holding B.V. now owns 43,171 shares of the company’s stock worth $544,000 after buying an additional 6,419 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in 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 worth $50,000 after buying an additional 2,250 shares during the period.

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.