Direxion Daily PANW Bear 1X Shares (NASDAQ:PALD) Sees Large Increase in Short Interest

Direxion Daily PANW Bear 1X Shares (NASDAQ:PALD) was the target of a significant increase in short interest during the month of April. As of April 15th, there was short interest totaling 4,686 shares, an increase of 1,183.8% from the March 31st total of 365 shares. Approximately 4.7% of the company’s shares are short sold. Based on an average daily trading volume, of 8,075 shares, the short-interest ratio is currently 0.6 days.

Direxion Daily PANW Bear 1X Shares Stock Performance

Shares of PALD remained flat at $24.35 on Friday. 242 shares of the company traded hands, compared to its average volume of 4,604. Direxion Daily PANW Bear 1X Shares has a fifty-two week low of $20.15 and a fifty-two week high of $30.87. The firm has a 50-day moving average price of $26.66 and a 200 day moving average price of $24.27.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PALD. Optiver Holding B.V. boosted its holdings in shares of Direxion Daily PANW Bear 1X Shares by 369.7% during the third quarter. Optiver Holding B.V. now owns 14,618 shares of the company’s stock worth $322,000 after purchasing an additional 11,506 shares during the last quarter. Susquehanna International Group LLP purchased a new position in Direxion Daily PANW Bear 1X Shares during the third quarter worth about $458,000. Finally, Goldman Sachs Group Inc. purchased a new position in Direxion Daily PANW Bear 1X Shares during the first quarter worth about $693,000.

Direxion Daily PANW Bear 1X Shares Company Profile

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.