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

Direxion Daily PANW Bear 1X Shares (NASDAQ:PALD) was the target of a large growth in short interest in 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. Approximately 20.9% of the company’s shares are short sold. Based on an average daily volume of 36,551 shares, the short-interest ratio is presently 0.6 days.

Hedge Funds Weigh In On Direxion Daily PANW Bear 1X Shares

Several hedge funds and other institutional investors have recently modified their holdings of the company. Optiver Holding B.V. raised its holdings in shares of 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 valued at $735,000 after buying an additional 10,350 shares during the period. Goldman Sachs Group Inc. purchased a new stake in shares of Direxion Daily PANW Bear 1X Shares during the 1st quarter valued at about $693,000. Finally, Susquehanna International Group LLP purchased a new stake in shares of Direxion Daily PANW Bear 1X Shares during the 3rd quarter valued at about $458,000.

Direxion Daily PANW Bear 1X Shares Stock Performance

Shares of NASDAQ PALD traded down $0.91 during midday trading on Thursday, hitting $14.58. The stock had a trading volume of 53,974 shares, compared to its average volume of 12,957. Direxion Daily PANW Bear 1X Shares has a 1-year low of $13.54 and a 1-year high of $30.87. The company has a fifty day moving average price of $20.75 and a 200 day moving average price of $23.60.

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.