Direxion Daily PANW Bear 1X Shares (NASDAQ:PALD) Short Interest Down 88.1% in April

Direxion Daily PANW Bear 1X Shares (NASDAQ:PALD) was the target of a significant decline in short interest during the month of April. As of April 30th, there was short interest totaling 558 shares, a decline of 88.1% from the April 15th total of 4,686 shares. Based on an average daily trading volume, of 1,250 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.6% of the shares of the company are sold short.

Direxion Daily PANW Bear 1X Shares Stock Performance

PALD traded down $0.77 during trading on Thursday, hitting $17.49. The stock had a trading volume of 12,386 shares, compared to its average volume of 4,472. Direxion Daily PANW Bear 1X Shares has a 12 month low of $17.49 and a 12 month high of $30.87. The company has a 50 day simple moving average of $25.08 and a 200-day simple moving average of $24.37.

Hedge Funds Weigh In On Direxion Daily PANW Bear 1X Shares

Several large investors have recently made changes to their positions in PALD. Optiver Holding B.V. grew its holdings in Direxion Daily PANW Bear 1X Shares by 369.7% in the 3rd quarter. Optiver Holding B.V. now owns 14,618 shares of the company’s stock valued at $322,000 after buying an additional 11,506 shares during the last quarter. Susquehanna International Group LLP acquired a new position in shares of Direxion Daily PANW Bear 1X Shares during the third quarter worth approximately $458,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Direxion Daily PANW Bear 1X Shares in the first quarter valued at approximately $693,000.

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.