Short Interest in Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) Declines By 57.3%

Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) saw a large decrease in short interest during the month of June. As of June 15th, there was short interest totaling 4,269 shares, a decrease of 57.3% from the May 31st total of 10,002 shares. Based on an average daily volume of 497,034 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.5% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PALU. 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. acquired a new stake in Direxion Daily PANW Bull 2X Shares during the first quarter worth approximately $502,000. Finally, Optiver Holding B.V. increased its holdings in Direxion Daily PANW Bull 2X Shares by 17.5% in the first 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 in the last quarter.

Direxion Daily PANW Bull 2X Shares Price Performance

Shares of PALU traded up $7.18 during trading hours on Monday, hitting $48.53. 206,217 shares of the stock were exchanged, compared to its average volume of 159,421. Direxion Daily PANW Bull 2X Shares has a fifty-two week low of $9.85 and a fifty-two week high of $49.11. The business has a 50-day moving average of $27.74 and a 200-day moving average of $19.65. The firm has a market capitalization of $38.82 million, a P/E ratio of 60.46 and a beta of 3.73.

Direxion Daily PANW Bull 2X Shares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd will be issued a dividend of $0.1182 per share. This represents a $0.47 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, June 23rd.

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.