Short Interest in Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) Drops By 64.9%

Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) saw a large decline in short interest in May. As of May 29th, there was short interest totaling 10,002 shares, a decline of 64.9% from the May 14th total of 28,515 shares. Approximately 1.3% of the shares of the stock are short sold. Based on an average trading volume of 221,957 shares, the days-to-cover ratio is presently 0.0 days.

Direxion Daily PANW Bull 2X Shares Stock Down 0.1%

Shares of PALU opened at $35.35 on Friday. Direxion Daily PANW Bull 2X Shares has a 52-week low of $9.85 and a 52-week high of $42.05. The firm’s fifty day moving average is $22.88 and its two-hundred day moving average is $18.51. The stock has a market cap of $28.28 million, a PE ratio of 60.46 and a beta of 3.73.

Direxion Daily PANW Bull 2X Shares Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were paid a dividend of $0.0618 per share. This represents a $0.25 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, March 24th.

Institutional Investors Weigh In On Direxion Daily PANW Bull 2X Shares

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC boosted its stake in Direxion Daily PANW Bull 2X Shares by 128.6% during the 1st quarter. Parallel Advisors LLC now owns 4,000 shares of the company’s stock worth $50,000 after purchasing an additional 2,250 shares during the last quarter. Goldman Sachs Group Inc. acquired a new stake in Direxion Daily PANW Bull 2X Shares during the 1st quarter worth $502,000. Finally, Optiver Holding B.V. boosted its stake in Direxion Daily PANW Bull 2X Shares by 17.5% during the 1st quarter. Optiver Holding B.V. now owns 43,171 shares of the company’s stock worth $544,000 after purchasing an additional 6,419 shares during the last quarter.

About Direxion Daily PANW Bull 2X Shares

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.