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

Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) saw a large decrease in short interest in May. As of May 29th, there was short interest totaling 10,002 shares, a decrease of 64.9% from the May 14th total of 28,515 shares. Based on an average daily trading volume, of 221,957 shares, the short-interest ratio is presently 0.0 days. Currently, 1.3% of the company’s stock are sold short.

Direxion Daily PANW Bull 2X Shares Stock Performance

NASDAQ:PALU traded down $0.05 during mid-day trading on Friday, hitting $35.35. 75,533 shares of the company’s stock traded hands, compared to its average volume of 163,658. The company has a fifty day moving average of $22.43 and a 200 day moving average of $18.39. Direxion Daily PANW Bull 2X Shares has a twelve month low of $9.85 and a twelve month high of $42.05. The company has a market capitalization of $28.28 million, a P/E ratio of 60.46 and a beta of 3.73.

Direxion Daily PANW Bull 2X Shares Cuts Dividend

The firm also recently announced 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 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, March 24th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its position in 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 valued at $31,000 after buying an additional 1,525 shares in the last quarter. Goldman Sachs Group Inc. acquired a new position in Direxion Daily PANW Bull 2X Shares during the 1st quarter valued at about $502,000. Finally, Optiver Holding B.V. increased its position in Direxion Daily PANW Bull 2X Shares by 17.5% during the 1st quarter. Optiver Holding B.V. now owns 43,171 shares of the company’s stock valued at $544,000 after buying an additional 6,419 shares in 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.