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

Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) saw a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 17,614 shares, a growth of 981.3% from the July 30th total of 1,629 shares. Approximately 3.1% of the shares of the stock are sold short. Based on an average daily volume of 106,214 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Investors Weigh In On Direxion Daily PANW Bull 2X Shares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. purchased a new position in Direxion Daily PANW Bull 2X Shares during the first quarter valued at $502,000. Optiver Holding B.V. grew its position 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. Finally, Parallel Advisors LLC increased its stake in shares of Direxion Daily PANW Bull 2X Shares by 128.6% during 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 in the last quarter.

Direxion Daily PANW Bull 2X Shares Trading Down 6.1%

PALU traded down $3.20 during trading on Tuesday, hitting $48.88. The company’s stock had a trading volume of 127,947 shares, compared to its average volume of 145,418. Direxion Daily PANW Bull 2X Shares has a twelve month low of $9.85 and a twelve month high of $67.86. The business’s fifty day simple moving average is $50.59 and its 200 day simple moving average is $29.97. The firm has a market capitalization of $27.86 million, a price-to-earnings ratio of 60.46 and a beta of 3.19.

Direxion Daily PANW Bull 2X Shares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were given a dividend of $0.1182 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $0.47 dividend on an annualized basis and a dividend yield of 1.0%.

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.