Direxion Daily PANW Bear 1X ETF (NASDAQ:PALD) Shares Shorted: Short Interest Down 48.4% in October

Direxion Daily PANW Bear 1X ETF (NASDAQ:PALD) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 6,565 shares, a decline of 48.4% from the September 30th total of 12,711 shares. Based on an average daily trading volume, of 112,830 shares, the days-to-cover ratio is currently 0.1 days. Currently, 2.3% of the company’s stock are sold short.

Direxion Daily PANW Bear 1X ETF Trading Up 3.9%

NASDAQ:PALD traded up $0.37 during mid-day trading on Friday, hitting $9.84. 338,506 shares of the company’s stock traded hands, compared to its average volume of 54,800. The company has a fifty day moving average of $10.05 and a 200 day moving average of $17.40. Direxion Daily PANW Bear 1X ETF has a twelve month low of $8.50 and a twelve month high of $30.87.

Institutional Trading of Direxion Daily PANW Bear 1X ETF

A hedge fund recently raised its position in Direxion Daily PANW Bear 1X ETF stock. Optiver Holding B.V. boosted its stake in shares of Direxion Daily PANW Bear 1X ETF (NASDAQ:PALD) by 60.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,598 shares of the company’s stock after purchasing an additional 10,350 shares during the period. Optiver Holding B.V. owned approximately 27.60% of Direxion Daily PANW Bear 1X ETF worth $735,000 at the end of the most recent reporting period.

About Direxion Daily PANW Bear 1X ETF

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.