Short Interest in Direxion Daily PANW Bear 1X Shares (NASDAQ:PALD) Rises By 406.8%

Direxion Daily PANW Bear 1X Shares (NASDAQ:PALD) was the recipient of a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 20,947 shares, a growth of 406.8% from the May 14th total of 4,133 shares. Based on an average trading volume of 36,551 shares, the short-interest ratio is presently 0.6 days. Currently, 20.9% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Optiver Holding B.V. increased its holdings in Direxion Daily PANW Bear 1X Shares by 60.0% during the 1st quarter. Optiver Holding B.V. now owns 27,598 shares of the company’s stock worth $735,000 after purchasing an additional 10,350 shares during the period. Susquehanna International Group LLP purchased a new position in Direxion Daily PANW Bear 1X Shares during the 3rd quarter worth $458,000. Finally, Goldman Sachs Group Inc. purchased a new position in Direxion Daily PANW Bear 1X Shares during the 1st quarter worth $693,000.

Direxion Daily PANW Bear 1X Shares Price Performance

Shares of PALD stock traded down $0.31 on Wednesday, reaching $15.33. 11,818 shares of the company’s stock were exchanged, compared to its average volume of 12,565. The company’s fifty day simple moving average is $20.99 and its 200 day simple moving average is $23.66. Direxion Daily PANW Bear 1X Shares has a 52 week low of $13.54 and a 52 week high of $30.87.

About Direxion Daily PANW Bear 1X Shares

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.