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

Direxion Daily PANW Bear 1X ETF (NASDAQ:PALD) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 30,543 shares, a growth of 4,748.1% from the August 31st total of 630 shares. Currently, 10.2% of the company’s stock are sold short. Based on an average trading volume of 191,987 shares, the days-to-cover ratio is presently 0.2 days.

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

An institutional investor recently raised its position in Direxion Daily PANW Bear 1X ETF stock. Optiver Holding B.V. grew its stake in Direxion Daily PANW Bear 1X ETF (NASDAQ:PALD) by 60.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,598 shares of the company’s stock after buying an additional 10,350 shares during the period. Optiver Holding B.V. owned approximately 27.60% of Direxion Daily PANW Bear 1X ETF worth $735,000 as of its most recent SEC filing.

Direxion Daily PANW Bear 1X ETF Stock Performance

Shares of PALD opened at $9.48 on Friday. The company’s fifty day moving average is $10.92 and its 200-day moving average is $16.48. Direxion Daily PANW Bear 1X ETF has a 12 month low of $9.33 and a 12 month high of $30.87.

Direxion Daily PANW Bear 1X ETF 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.