Direxion Daily PANW Bear 1X Shares (NASDAQ:PALD) Sees Significant Decline in Short Interest

Direxion Daily PANW Bear 1X Shares (NASDAQ:PALD) was the recipient of a significant drop in short interest during the month of April. As of April 30th, there was short interest totaling 558 shares, a drop of 88.1% from the April 15th total of 4,686 shares. Approximately 0.6% of the company’s shares are short sold. Based on an average daily volume of 1,250 shares, the days-to-cover ratio is currently 0.4 days.

Direxion Daily PANW Bear 1X Shares Stock Performance

Shares of Direxion Daily PANW Bear 1X Shares stock traded up $0.06 on Tuesday, hitting $19.64. The stock had a trading volume of 321 shares, compared to its average volume of 4,127. Direxion Daily PANW Bear 1X Shares has a twelve month low of $19.44 and a twelve month high of $30.87. The stock has a 50 day moving average of $25.48 and a 200 day moving average of $24.40.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Optiver Holding B.V. boosted its position in 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 during the last quarter. Susquehanna International Group LLP bought a new stake in Direxion Daily PANW Bear 1X Shares during the 3rd quarter valued at $458,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Direxion Daily PANW Bear 1X Shares in the 1st quarter worth about $693,000.

Direxion Daily PANW Bear 1X Shares Company Profile

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.