Direxion Daily PANW Bull 2X ETF (NASDAQ:PALU) Short Interest Up 72.4% in August

Direxion Daily PANW Bull 2X ETF (NASDAQ:PALU) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 30,366 shares, an increase of 72.4% from the August 15th total of 17,614 shares. Approximately 5.3% of the company’s stock are sold short. Based on an average daily volume of 93,344 shares, the days-to-cover ratio is currently 0.3 days.

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

An institutional investor recently raised its stake in Direxion Daily PANW Bull 2X ETF stock. Parallel Advisors LLC raised its holdings in Direxion Daily PANW Bull 2X ETF (NASDAQ:PALU) by 128.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,000 shares of the company’s stock after buying an additional 2,250 shares during the period. Parallel Advisors LLC owned about 0.50% of Direxion Daily PANW Bull 2X ETF worth $50,000 as of its most recent SEC filing.

Direxion Daily PANW Bull 2X ETF Price Performance

Shares of Direxion Daily PANW Bull 2X ETF stock traded down $3.67 on Friday, reaching $52.74. 100,904 shares of the company were exchanged, compared to its average volume of 148,673. The stock’s 50 day moving average price is $52.67 and its 200-day moving average price is $34.62. Direxion Daily PANW Bull 2X ETF has a 1-year low of $9.85 and a 1-year high of $67.86. The company has a market cap of $52.69 million, a P/E ratio of 60.46 and a beta of 3.24.

Direxion Daily PANW Bull 2X ETF 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.