Direxion Daily PANW Bull 2X ETF (NASDAQ:PALU) Shares Down 1% – Here’s Why

Direxion Daily PANW Bull 2X ETF (NASDAQ:PALU)’s share price dropped 1% during trading on Wednesday. The company traded as low as $44.61 and last traded at $46.19. Approximately 51,969 shares changed hands during trading, a decline of 63% from the average daily volume of 140,054 shares. The stock had previously closed at $46.65.

Direxion Daily PANW Bull 2X ETF Price Performance

The company has a market cap of $19.26 million, a PE ratio of 60.46 and a beta of 3.51. The business has a 50 day moving average of $54.44 and a 200 day moving average of $35.60.

Institutional Trading of Direxion Daily PANW Bull 2X ETF

An institutional investor recently raised its position in Direxion Daily PANW Bull 2X ETF stock. Parallel Advisors LLC lifted its stake in Direxion Daily PANW Bull 2X ETF (NASDAQ:PALU) by 128.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,000 shares of the company’s stock after buying an additional 2,250 shares during the quarter. Parallel Advisors LLC owned approximately 0.50% of Direxion Daily PANW Bull 2X ETF worth $50,000 at the end of the most recent reporting period.

About Direxion Daily PANW Bull 2X ETF

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.