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

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

Direxion Daily PANW Bull 2X Shares Trading Up 5.2%

Shares of PALU traded up $2.57 on Tuesday, reaching $51.67. 172,496 shares of the company’s stock were exchanged, compared to its average volume of 159,806. The stock has a market capitalization of $41.34 million, a P/E ratio of 60.46 and a beta of 3.73. The business has a 50 day moving average price of $28.45 and a two-hundred day moving average price of $19.84. Direxion Daily PANW Bull 2X Shares has a 12 month low of $9.85 and a 12 month high of $52.01.

Direxion Daily PANW Bull 2X Shares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd will be given a dividend of $0.1182 per share. The ex-dividend date is Tuesday, June 23rd. This represents a $0.47 annualized dividend and a dividend yield of 0.9%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PALU. Goldman Sachs Group Inc. acquired a new stake in shares of Direxion Daily PANW Bull 2X Shares during the first quarter worth $502,000. Parallel Advisors LLC lifted its stake in Direxion Daily PANW Bull 2X Shares by 677.8% in the fourth quarter. Parallel Advisors LLC now owns 1,750 shares of the company’s stock valued at $31,000 after buying an additional 1,525 shares during the period. Finally, Optiver Holding B.V. lifted its stake 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 valued at $544,000 after buying an additional 6,419 shares during the period.

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.