Short Interest in Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) Drops By 54.5%

Direxion Daily PANW Bull 2X Shares (NASDAQ:PALU) was the recipient of a large decrease in short interest during the month of May. As of May 15th, there was short interest totaling 28,515 shares, a decrease of 54.5% from the April 30th total of 62,634 shares. Approximately 3.6% of the shares of the stock are sold short. Based on an average trading volume of 109,236 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC grew its position in Direxion Daily PANW Bull 2X Shares by 128.6% in the first quarter. Parallel Advisors LLC now owns 4,000 shares of the company’s stock worth $50,000 after acquiring an additional 2,250 shares in the last quarter. Optiver Holding B.V. lifted its stake in shares of 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 valued at $1,276,000 after purchasing an additional 36,274 shares during the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Direxion Daily PANW Bull 2X Shares in the 1st quarter worth approximately $502,000.

Direxion Daily PANW Bull 2X Shares Price Performance

Shares of PALU stock remained flat at $41.44 on Tuesday. 971,212 shares of the company were exchanged, compared to its average volume of 134,271. Direxion Daily PANW Bull 2X Shares has a 1 year low of $9.85 and a 1 year high of $42.05. The stock’s 50-day simple moving average is $18.85 and its two-hundred day simple moving average is $17.75. The stock has a market capitalization of $33.15 million, a P/E ratio of 60.46 and a beta of 1.60.

Direxion Daily PANW Bull 2X Shares Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were issued a $0.0618 dividend. The ex-dividend date was Tuesday, March 24th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.6%.

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.