Short Interest in Direxion Daily PANW Bear 1X Shares (NASDAQ:PALD) Declines By 56.6%

Direxion Daily PANW Bear 1X Shares (NASDAQ:PALD) was the recipient of a large decline in short interest in June. As of June 15th, there was short interest totaling 9,095 shares, a decline of 56.6% from the May 31st total of 20,947 shares. Based on an average daily trading volume, of 60,569 shares, the days-to-cover ratio is presently 0.2 days. Currently, 9.1% of the company’s stock are sold short.

Direxion Daily PANW Bear 1X Shares Price Performance

NASDAQ:PALD opened at $13.19 on Monday. The firm has a 50-day moving average of $17.90 and a two-hundred day moving average of $22.81. Direxion Daily PANW Bear 1X Shares has a 1-year low of $13.19 and a 1-year high of $30.87.

Direxion Daily PANW Bear 1X Shares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd will be paid a $0.0347 dividend. The ex-dividend date is Tuesday, June 23rd. This represents a $0.14 annualized dividend and a dividend yield of 1.1%.

Institutional Investors Weigh In On Direxion Daily PANW Bear 1X Shares

A number of hedge funds have recently bought and sold shares of the business. Susquehanna International Group LLP acquired a new position in shares of Direxion Daily PANW Bear 1X Shares in the 3rd quarter valued at approximately $458,000. Goldman Sachs Group Inc. acquired a new stake in shares of Direxion Daily PANW Bear 1X Shares during the first quarter worth approximately $693,000. Finally, Optiver Holding B.V. increased its stake in shares of Direxion Daily PANW Bear 1X Shares by 60.0% in the first quarter. Optiver Holding B.V. now owns 27,598 shares of the company’s stock worth $735,000 after buying an additional 10,350 shares during the last quarter.

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.