Short Interest in Direxion Daily PANW Bear 1X Shares (NASDAQ:PALD) Rises By 80.3%

Direxion Daily PANW Bear 1X Shares (NASDAQ:PALD) was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totaling 16,396 shares, a growth of 80.3% from the June 15th total of 9,095 shares. Approximately 8.2% of the company’s stock are sold short. Based on an average daily volume of 67,474 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Trading of Direxion Daily PANW Bear 1X Shares

A number of hedge funds and other institutional investors have recently made changes to their positions in PALD. Goldman Sachs Group Inc. purchased a new stake in Direxion Daily PANW Bear 1X Shares in the first quarter valued at approximately $693,000. Susquehanna International Group LLP acquired a new position in shares of Direxion Daily PANW Bear 1X Shares in the 3rd quarter valued at $458,000. Finally, Optiver Holding B.V. raised its position in 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 valued at $735,000 after purchasing an additional 10,350 shares during the last quarter.

Direxion Daily PANW Bear 1X Shares Stock Performance

Shares of Direxion Daily PANW Bear 1X Shares stock opened at $11.06 on Friday. The company has a fifty day simple moving average of $14.34 and a 200-day simple moving average of $21.57. Direxion Daily PANW Bear 1X Shares has a 12-month low of $10.75 and a 12-month high of $30.87.

Direxion Daily PANW Bear 1X Shares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were issued a dividend of $0.0347 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.14 annualized dividend and a dividend yield of 1.3%.

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.