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

Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) was the recipient of a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 7,582 shares, an increase of 77.6% from the June 15th total of 4,269 shares. Based on an average daily volume of 119,265 shares, the days-to-cover ratio is presently 0.1 days. Currently, 1.1% of the shares of the company are sold short.

Institutional Trading of Direxion Daily PANW Bull 2X Shares

A number of hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. acquired a new stake in Direxion Daily PANW Bull 2X Shares in the 1st quarter worth $502,000. Optiver Holding B.V. lifted its stake in shares of 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 valued at $544,000 after buying an additional 6,419 shares during the period. Finally, Parallel Advisors LLC lifted its stake in shares of Direxion Daily PANW Bull 2X Shares by 128.6% in the first quarter. Parallel Advisors LLC now owns 4,000 shares of the company’s stock valued at $50,000 after buying an additional 2,250 shares during the period.

Direxion Daily PANW Bull 2X Shares Stock Down 0.3%

Shares of PALU stock opened at $54.52 on Friday. Direxion Daily PANW Bull 2X Shares has a 12 month low of $9.85 and a 12 month high of $59.63. The firm has a market cap of $31.08 million, a PE ratio of 60.46 and a beta of 3.04. The stock has a 50 day moving average of $37.93 and a 200-day moving average of $22.86.

Direxion Daily PANW Bull 2X Shares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were given a dividend of $0.1182 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.47 dividend on an annualized basis and a yield of 0.9%.

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.