Direxion Daily PANW Bull 2X ETF (NASDAQ:PALU) Shares Down 1% – Should You Sell?

Direxion Daily PANW Bull 2X ETF (NASDAQ:PALU)’s share price dropped 1% during trading on Wednesday. The company traded as low as $44.61 and last traded at $46.19. 51,969 shares were traded during trading, a decline of 63% from the average daily volume of 140,054 shares. The stock had previously closed at $46.65.

Direxion Daily PANW Bull 2X ETF Trading Down 1.0%

The company has a market cap of $24.02 million, a price-to-earnings ratio of 60.46 and a beta of 3.51. The company’s 50 day moving average price is $55.16 and its 200 day moving average price is $35.41.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Direxion Daily PANW Bull 2X ETF stock. Parallel Advisors LLC boosted its position in Direxion Daily PANW Bull 2X ETF (NASDAQ:PALU) by 128.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,000 shares of the company’s stock after purchasing an additional 2,250 shares during the period. Parallel Advisors LLC owned about 0.50% of Direxion Daily PANW Bull 2X ETF worth $50,000 as of its most recent filing with the Securities & Exchange Commission.

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.