Direxion Daily PANW Bear 1X Shares (NASDAQ:PALD) Sees Significant Drop in Short Interest

Direxion Daily PANW Bear 1X Shares (NASDAQ:PALD) saw a large decrease in short interest in July. As of July 31st, there was short interest totaling 3,647 shares, a decrease of 71.8% from the July 15th total of 12,911 shares. Based on an average daily trading volume, of 39,443 shares, the days-to-cover ratio is presently 0.1 days. Currently, 1.8% of the company’s stock are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Susquehanna International Group LLP purchased a new stake in shares of Direxion Daily PANW Bear 1X Shares during the 3rd quarter worth about $458,000. Goldman Sachs Group Inc. acquired a new stake in shares of Direxion Daily PANW Bear 1X Shares during the 1st quarter valued at about $693,000. Finally, Optiver Holding B.V. grew its stake in shares of Direxion Daily PANW Bear 1X Shares by 60.0% in the 1st quarter. Optiver Holding B.V. now owns 27,598 shares of the company’s stock valued at $735,000 after buying an additional 10,350 shares in the last quarter.

Direxion Daily PANW Bear 1X Shares Stock Performance

Direxion Daily PANW Bear 1X Shares stock opened at $9.99 on Thursday. The company’s fifty day simple moving average is $12.53 and its 200-day simple moving average is $20.03. Direxion Daily PANW Bear 1X Shares has a 12 month low of $9.96 and a 12 month high of $30.87.

Direxion Daily PANW Bear 1X Shares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were given a dividend of $0.0347 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.14 dividend on an annualized basis and a yield of 1.4%.

Direxion Daily PANW Bear 1X Shares Company Profile

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.