Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) Short Interest Update

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PALU. Parallel Advisors LLC increased its holdings in shares of Direxion Daily PANW Bull 2X Shares by 677.8% during the fourth quarter. Parallel Advisors LLC now owns 1,750 shares of the company’s stock valued at $31,000 after purchasing an additional 1,525 shares during the period. Goldman Sachs Group Inc. acquired a new position in shares of Direxion Daily PANW Bull 2X Shares during the first quarter valued at $502,000. Finally, Optiver Holding B.V. increased its holdings in shares of Direxion Daily PANW Bull 2X Shares by 17.5% during the first 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.

Direxion Daily PANW Bull 2X Shares Price Performance

Shares of PALU traded down $0.05 during trading hours on Friday, reaching $35.35. 75,533 shares of the company’s stock traded hands, compared to its average volume of 163,658. The firm has a market capitalization of $28.28 million, a price-to-earnings ratio of 60.46 and a beta of 3.73. Direxion Daily PANW Bull 2X Shares has a twelve month low of $9.85 and a twelve month high of $42.05. The business’s fifty day simple moving average is $22.88 and its two-hundred day simple moving average is $18.51.

Direxion Daily PANW Bull 2X Shares Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were issued a dividend of $0.0618 per share. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, March 24th.

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.