Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) Trading Down 1.2% – Should You Sell?

Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) were down 1.2% during mid-day trading on Tuesday . The company traded as low as $12.17 and last traded at $12.59. Approximately 170,294 shares were traded during mid-day trading, an increase of 43% from the average daily volume of 119,256 shares. The stock had previously closed at $12.74.

Direxion Daily PANW Bull 2X Shares Price Performance

The firm’s fifty day moving average is $12.87 and its 200 day moving average is $18.70. The firm has a market capitalization of $13.15 million, a price-to-earnings ratio of 60.46 and a beta of -5.55.

Direxion Daily PANW Bull 2X Shares Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were given a $0.0618 dividend. The ex-dividend date was Tuesday, March 24th. This represents a $0.25 dividend on an annualized basis and a yield of 1.8%.

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

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

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.