Short Interest in Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) Declines By 45.5%

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

Direxion Daily PANW Bull 2X Shares Stock Performance

NASDAQ PALU traded down $0.60 during trading on Tuesday, hitting $59.56. The stock had a trading volume of 60,031 shares, compared to its average volume of 147,951. The stock has a 50 day simple moving average of $48.26 and a 200 day simple moving average of $28.38. Direxion Daily PANW Bull 2X Shares has a one year low of $9.85 and a one year high of $67.86. The stock has a market capitalization of $33.95 million, a price-to-earnings ratio of 60.46 and a beta of 3.19.

Direxion Daily PANW Bull 2X Shares Dividend Announcement

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

Institutional Trading of Direxion Daily PANW Bull 2X Shares

Several institutional investors and hedge funds have recently bought and sold shares of PALU. Goldman Sachs Group Inc. acquired a new stake in Direxion Daily PANW Bull 2X Shares during the first quarter valued at $502,000. Parallel Advisors LLC raised its stake in shares of Direxion Daily PANW Bull 2X Shares by 677.8% in the 4th quarter. Parallel Advisors LLC now owns 1,750 shares of the company’s stock valued at $31,000 after acquiring an additional 1,525 shares during the period. Finally, Optiver Holding B.V. boosted its stake in shares of Direxion Daily PANW Bull 2X Shares by 17.5% in 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 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.