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

Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) was the recipient of a large increase in short interest in August. As of August 14th, there was short interest totaling 17,614 shares, an increase of 981.3% from the July 30th total of 1,629 shares. Based on an average daily trading volume, of 106,214 shares, the short-interest ratio is currently 0.2 days. Approximately 3.1% of the shares of the company are sold short.

Direxion Daily PANW Bull 2X Shares Stock Performance

Shares of PALU traded up $0.02 during mid-day trading on Wednesday, reaching $48.90. The stock had a trading volume of 31,309 shares, compared to its average volume of 144,715. Direxion Daily PANW Bull 2X Shares has a 12 month low of $9.85 and a 12 month high of $67.86. The business has a fifty day moving average of $50.59 and a 200 day moving average of $29.97. The firm has a market cap of $27.87 million, a price-to-earnings ratio of 60.46 and a beta of 3.19.

Direxion Daily PANW Bull 2X Shares Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC grew its holdings in 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 buying an additional 2,250 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in Direxion Daily PANW Bull 2X Shares during the first quarter valued at $502,000. Finally, 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 purchasing an additional 6,419 shares during the last quarter.

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.