Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) Sees Large Decline in Short Interest

Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) saw a significant decline in short interest in the month of May. As of May 15th, there was short interest totaling 28,515 shares, a decline of 54.5% from the April 30th total of 62,634 shares. Based on an average daily volume of 109,236 shares, the short-interest ratio is presently 0.3 days. Currently, 3.6% of the company’s shares are sold short.

Direxion Daily PANW Bull 2X Shares Trading Up 8.6%

PALU stock traded up $3.14 during trading on Monday, reaching $39.80. 778,524 shares of the stock were exchanged, compared to its average volume of 132,298. The business has a 50 day moving average price of $18.30 and a 200-day moving average price of $17.66. Direxion Daily PANW Bull 2X Shares has a 1 year low of $9.85 and a 1 year high of $40.03. The firm has a market capitalization of $31.84 million, a price-to-earnings ratio of 60.46 and a beta of 1.60.

Direxion Daily PANW Bull 2X Shares Cuts Dividend

The company 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. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $0.25 dividend on an annualized basis and a yield of 0.6%.

Hedge Funds Weigh In On Direxion Daily PANW Bull 2X Shares

A number of institutional investors have recently bought and sold shares of PALU. Parallel Advisors LLC raised its stake in Direxion Daily PANW Bull 2X Shares by 677.8% during the fourth quarter. Parallel Advisors LLC now owns 1,750 shares of the company’s stock worth $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 during the first quarter worth about $502,000. Finally, Optiver Holding B.V. raised its stake in Direxion Daily PANW Bull 2X Shares by 239.4% during the third quarter. Optiver Holding B.V. now owns 51,428 shares of the company’s stock worth $1,276,000 after purchasing an additional 36,274 shares during the period.

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.