Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) Trading Up 6.1% – Should You Buy?

Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) rose 6.1% during mid-day trading on Thursday . The company traded as high as $11.52 and last traded at $11.26. Approximately 164,321 shares changed hands during trading, an increase of 39% from the average daily volume of 118,591 shares. The stock had previously closed at $10.61.

Direxion Daily PANW Bull 2X Shares Stock Performance

The firm has a market cap of $6.38 million, a PE ratio of 60.46 and a beta of 4.35. The stock has a 50 day simple moving average of $16.00 and a two-hundred day simple moving average of $20.93.

Direxion Daily PANW Bull 2X Shares Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 23rd were issued a $0.1182 dividend. The ex-dividend date of this dividend was Tuesday, December 23rd. This represents a $0.47 dividend on an annualized basis and a yield of 4.2%.

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

Hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC lifted its stake in shares of Direxion Daily PANW Bull 2X Shares by 677.8% in the 4th quarter. Parallel Advisors LLC now owns 1,750 shares of the company’s stock valued at $31,000 after purchasing an additional 1,525 shares during the period. Goldman Sachs Group Inc. purchased a new position in Direxion Daily PANW Bull 2X Shares in the first quarter valued at $502,000. Finally, Optiver Holding B.V. increased its holdings in Direxion Daily PANW Bull 2X Shares by 239.4% in the third quarter. Optiver Holding B.V. now owns 51,428 shares of the company’s stock valued at $1,276,000 after buying an additional 36,274 shares in the last quarter.

Direxion Daily PANW Bull 2X Shares Company Profile

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.