Short Interest in Direxion Daily PANW Bear 1X Shares (NASDAQ:PALD) Declines By 56.6%

Direxion Daily PANW Bear 1X Shares (NASDAQ:PALD) was the recipient of a significant decline in short interest in June. As of June 15th, there was short interest totaling 9,095 shares, a decline of 56.6% from the May 31st total of 20,947 shares. Based on an average daily trading volume, of 60,569 shares, the short-interest ratio is presently 0.2 days. Approximately 9.1% of the shares of the company are short sold.

Direxion Daily PANW Bear 1X Shares Trading Down 2.4%

Shares of PALD stock traded down $0.29 during mid-day trading on Tuesday, reaching $11.80. The company’s stock had a trading volume of 66,120 shares, compared to its average volume of 17,454. Direxion Daily PANW Bear 1X Shares has a 1-year low of $11.72 and a 1-year high of $30.87. The firm’s 50-day moving average is $17.63 and its two-hundred day moving average is $22.74.

Direxion Daily PANW Bear 1X Shares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd will be paid a $0.0347 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $0.14 dividend on an annualized basis and a yield of 1.2%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PALD. Susquehanna International Group LLP acquired a new stake in Direxion Daily PANW Bear 1X Shares during the third quarter valued at approximately $458,000. Goldman Sachs Group Inc. acquired a new position in shares of Direxion Daily PANW Bear 1X Shares in the 1st quarter worth approximately $693,000. Finally, Optiver Holding B.V. raised its holdings in shares of Direxion Daily PANW Bear 1X Shares by 60.0% in the 1st quarter. Optiver Holding B.V. now owns 27,598 shares of the company’s stock worth $735,000 after buying an additional 10,350 shares in the last quarter.

Direxion Daily PANW Bear 1X Shares Company Profile

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.