Direxion Daily PANW Bull 2X ETF (NASDAQ:PALU) Shares Up 0.6% – Here’s What Happened

Direxion Daily PANW Bull 2X ETF (NASDAQ:PALU)’s stock price shot up 0.6% during trading on Tuesday . The stock traded as high as $58.16 and last traded at $56.50. 126,649 shares changed hands during trading, a decline of 15% from the average daily volume of 149,362 shares. The stock had previously closed at $56.17.

Direxion Daily PANW Bull 2X ETF Trading Down 0.7%

The firm has a market cap of $56.35 million, a P/E ratio of 60.46 and a beta of 3.24. The company’s 50-day moving average is $52.54 and its two-hundred day moving average is $34.30.

Institutional Inflows and Outflows

A hedge fund recently raised its position in Direxion Daily PANW Bull 2X ETF stock. Optiver Holding B.V. boosted its stake in Direxion Daily PANW Bull 2X ETF (NASDAQ:PALU) by 17.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 43,171 shares of the company’s stock after buying an additional 6,419 shares during the quarter. Optiver Holding B.V. owned approximately 5.40% of Direxion Daily PANW Bull 2X ETF worth $544,000 as of its most recent SEC filing.

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.