Direxion Daily PANW Bear 1X Shares (NASDAQ:PALD) Short Interest Update

Direxion Daily PANW Bear 1X Shares (NASDAQ:PALD) saw a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 20,947 shares, an increase of 406.8% from the May 14th total of 4,133 shares. Based on an average daily volume of 36,551 shares, the days-to-cover ratio is presently 0.6 days. Approximately 20.9% of the shares of the company are short sold.

Institutional Trading of Direxion Daily PANW Bear 1X Shares

A number of hedge funds and other institutional investors have recently made changes to their positions in PALD. Optiver Holding B.V. raised its stake in shares of Direxion Daily PANW Bear 1X Shares by 369.7% during the 3rd quarter. Optiver Holding B.V. now owns 14,618 shares of the company’s stock valued at $322,000 after purchasing an additional 11,506 shares during the period. Susquehanna International Group LLP bought a new position in Direxion Daily PANW Bear 1X Shares in the 3rd quarter worth about $458,000. Finally, Goldman Sachs Group Inc. bought a new position in Direxion Daily PANW Bear 1X Shares in the 1st quarter worth about $693,000.

Direxion Daily PANW Bear 1X Shares Stock Performance

Shares of NASDAQ:PALD traded down $0.04 during midday trading on Friday, reaching $14.54. 10,519 shares of the company traded hands, compared to its average volume of 12,926. Direxion Daily PANW Bear 1X Shares has a 12 month low of $13.54 and a 12 month high of $30.87. The firm’s fifty day moving average price is $20.50 and its two-hundred day moving average price is $23.53.

About Direxion Daily PANW Bear 1X Shares

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.