Direxion Daily PANW Bear 1X Shares (NASDAQ:PALD) Trading Up 0.8% – Still a Buy?

Direxion Daily PANW Bear 1X Shares (NASDAQ:PALD)’s stock price were up 0.8% during trading on Thursday . The stock traded as high as $28.99 and last traded at $28.54. Approximately 2,160 shares changed hands during trading, a decline of 59% from the average daily volume of 5,232 shares. The stock had previously closed at $28.32.

Direxion Daily PANW Bear 1X Shares Trading Up 1.6%

The stock’s 50 day simple moving average is $24.61 and its two-hundred day simple moving average is $23.39.

Direxion Daily PANW Bear 1X Shares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 23rd were given a dividend of $0.3954 per share. This is a boost from Direxion Daily PANW Bear 1X Shares’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Tuesday, December 23rd. This represents a $1.58 dividend on an annualized basis and a yield of 5.5%.

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

Hedge funds have recently added to or reduced their stakes in the stock. Optiver Holding B.V. increased its holdings in shares of Direxion Daily PANW Bear 1X Shares by 369.7% during the third quarter. Optiver Holding B.V. now owns 14,618 shares of the company’s stock valued at $322,000 after acquiring an additional 11,506 shares in the last quarter. Susquehanna International Group LLP purchased a new stake in Direxion Daily PANW Bear 1X Shares during the 3rd quarter valued at about $458,000. Finally, Goldman Sachs Group Inc. bought a new stake in Direxion Daily PANW Bear 1X Shares during the 1st quarter valued at about $693,000.

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.