Direxion Daily PANW Bear 1X ETF (NASDAQ:PALD) Sees Large Decrease in Short Interest

Direxion Daily PANW Bear 1X ETF (NASDAQ:PALD) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totaling 630 shares, a decline of 93.5% from the August 15th total of 9,660 shares. Based on an average trading volume of 70,691 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.3% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. bought a new position in shares of Direxion Daily PANW Bear 1X ETF during the first quarter worth about $693,000. Susquehanna International Group LLP acquired a new position in shares of Direxion Daily PANW Bear 1X ETF during the third quarter valued at $458,000. Finally, Optiver Holding B.V. raised its stake in shares of Direxion Daily PANW Bear 1X ETF by 60.0% during the first quarter. Optiver Holding B.V. now owns 27,598 shares of the company’s stock valued at $735,000 after purchasing an additional 10,350 shares in the last quarter.

Direxion Daily PANW Bear 1X ETF Trading Up 3.1%

Shares of NASDAQ PALD traded up $0.35 during midday trading on Friday, hitting $11.59. The company’s stock had a trading volume of 15,522 shares, compared to its average volume of 35,853. Direxion Daily PANW Bear 1X ETF has a 1-year low of $9.85 and a 1-year high of $30.87. The firm’s fifty day moving average price is $11.24 and its 200-day moving average price is $17.79.

Direxion Daily PANW Bear 1X ETF 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.