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 increase in short interest during the month of August. As of August 14th, there was short interest totaling 17,614 shares, an increase of 981.3% from the July 30th total of 1,629 shares. Based on an average daily trading volume, of 106,214 shares, the short-interest ratio is presently 0.2 days. Approximately 3.1% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its holdings in 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 purchasing an additional 1,525 shares in the last quarter. Optiver Holding B.V. grew 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 worth $544,000 after buying an additional 6,419 shares in the last quarter. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Direxion Daily PANW Bull 2X Shares during the first quarter worth $502,000.

Direxion Daily PANW Bull 2X Shares Stock Down 6.1%

Shares of Direxion Daily PANW Bull 2X Shares stock traded down $3.20 during mid-day trading on Tuesday, reaching $48.88. 127,947 shares of the stock traded hands, compared to its average volume of 145,418. The business has a 50-day moving average of $50.59 and a 200 day moving average of $29.97. Direxion Daily PANW Bull 2X Shares has a fifty-two week low of $9.85 and a fifty-two week high of $67.86. The stock has a market capitalization of $27.86 million, a PE ratio of 60.46 and a beta of 3.19.

Direxion Daily PANW Bull 2X Shares Dividend Announcement

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

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.