Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) Short Interest Down 60.3% in April

Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) was the recipient of a large decrease in short interest in the month of April. As of April 30th, there was short interest totaling 62,634 shares, a decrease of 60.3% from the April 15th total of 157,733 shares. Approximately 7.8% of the shares of the company are sold short. Based on an average daily volume of 98,961 shares, the short-interest ratio is presently 0.6 days.

Direxion Daily PANW Bull 2X Shares Stock Up 3.9%

NASDAQ:PALU traded up $1.03 during trading hours on Friday, reaching $27.58. 100,569 shares of the company’s stock were exchanged, compared to its average volume of 116,561. The firm has a market capitalization of $22.06 million, a price-to-earnings ratio of 60.46 and a beta of 1.60. The company has a 50-day moving average of $15.01 and a 200 day moving average of $17.54. Direxion Daily PANW Bull 2X Shares has a 1-year low of $9.85 and a 1-year high of $29.55.

Direxion Daily PANW Bull 2X Shares Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were issued a $0.0618 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, March 24th.

Institutional Investors Weigh In On Direxion Daily PANW Bull 2X Shares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC lifted its position in shares of Direxion Daily PANW Bull 2X Shares by 677.8% during the 4th quarter. Parallel Advisors LLC now owns 1,750 shares of the company’s stock valued at $31,000 after acquiring an additional 1,525 shares during the period. Goldman Sachs Group Inc. acquired a new stake in shares of Direxion Daily PANW Bull 2X Shares during the 1st quarter valued at approximately $502,000. Finally, Optiver Holding B.V. lifted its position in shares of Direxion Daily PANW Bull 2X Shares by 239.4% during the 3rd quarter. Optiver Holding B.V. now owns 51,428 shares of the company’s stock valued at $1,276,000 after acquiring an additional 36,274 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.