Direxion Daily PANW Bear 1X Shares (NASDAQ:PALD) Short Interest Up 640.7% in May

Direxion Daily PANW Bear 1X Shares (NASDAQ:PALD) was the recipient of a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 4,133 shares, a growth of 640.7% from the April 30th total of 558 shares. Currently, 4.1% of the company’s stock are short sold. Based on an average daily volume of 8,162 shares, the days-to-cover ratio is currently 0.5 days.

Direxion Daily PANW Bear 1X Shares Stock Down 3.1%

Shares of NASDAQ:PALD traded down $0.51 during trading on Thursday, hitting $16.19. 13,677 shares of the company were exchanged, compared to its average volume of 7,589. Direxion Daily PANW Bear 1X Shares has a fifty-two week low of $15.89 and a fifty-two week high of $30.87. The firm has a fifty day moving average price of $23.14 and a two-hundred day moving average price of $24.09.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Optiver Holding B.V. increased its holdings 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 worth $322,000 after acquiring 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 3rd quarter worth approximately $458,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Direxion Daily PANW Bear 1X Shares during the 1st quarter worth 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.