Short Interest in Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) Drops By 60.6%

Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) saw a significant drop in short interest in July. As of July 15th, there was short interest totaling 2,988 shares, a drop of 60.6% from the June 30th total of 7,582 shares. Currently, 0.5% of the shares of the stock are short sold. Based on an average trading volume of 102,429 shares, the short-interest ratio is currently 0.0 days.

Direxion Daily PANW Bull 2X Shares Stock Performance

Shares of NASDAQ PALU opened at $45.53 on Monday. The company has a market cap of $25.95 million, a P/E ratio of 60.46 and a beta of 3.04. Direxion Daily PANW Bull 2X Shares has a 52-week low of $9.85 and a 52-week high of $59.63. The firm’s fifty day moving average is $41.09 and its two-hundred day moving average is $24.22.

Direxion Daily PANW Bull 2X Shares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were issued a $0.1182 dividend. This represents a $0.47 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Tuesday, June 23rd.

Hedge Funds Weigh In On Direxion Daily PANW Bull 2X Shares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PALU. Optiver Holding B.V. grew its holdings in Direxion Daily PANW Bull 2X Shares by 17.5% during the 1st 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 in the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Direxion Daily PANW Bull 2X Shares during the 1st quarter worth approximately $502,000. Finally, Parallel Advisors LLC boosted its position in shares of Direxion Daily PANW Bull 2X Shares by 128.6% during the 1st quarter. Parallel Advisors LLC now owns 4,000 shares of the company’s stock valued at $50,000 after acquiring an additional 2,250 shares during the last quarter.

Direxion Daily PANW Bull 2X Shares Company Profile

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.