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

Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) was the target of a significant decrease in short interest in July. As of July 31st, there was short interest totaling 1,629 shares, a decrease of 45.5% from the July 15th total of 2,988 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily trading volume, of 98,965 shares, the days-to-cover ratio is currently 0.0 days.

Direxion Daily PANW Bull 2X Shares Stock Performance

Shares of NASDAQ PALU traded down $2.87 during trading on Monday, hitting $60.10. The company had a trading volume of 93,161 shares, compared to its average volume of 148,461. Direxion Daily PANW Bull 2X Shares has a 12 month low of $9.85 and a 12 month high of $67.86. The firm has a market capitalization of $34.26 million, a P/E ratio of 60.46 and a beta of 3.19. The stock has a 50 day simple moving average of $47.70 and a 200 day simple moving average of $28.08.

Direxion Daily PANW Bull 2X Shares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were issued a $0.1182 dividend. This represents a $0.47 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 23rd.

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

Several large investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its position in shares of Direxion Daily PANW Bull 2X Shares by 128.6% in the first quarter. Parallel Advisors LLC now owns 4,000 shares of the company’s stock worth $50,000 after purchasing an additional 2,250 shares during the period. Optiver Holding B.V. raised its position in shares of 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 purchasing an additional 6,419 shares during the period. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Direxion Daily PANW Bull 2X Shares during the 1st quarter valued at $502,000.

Direxion Daily PANW Bull 2X Shares Company Profile

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.