Direxion Daily PANW Bear 1X Shares (NASDAQ:PALD) Sees Large Increase in Short Interest

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. Based on an average daily trading volume, of 67,474 shares, the days-to-cover ratio is presently 0.2 days. Approximately 8.2% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. purchased a new position in shares of Direxion Daily PANW Bear 1X Shares during the first quarter valued at about $693,000. Susquehanna International Group LLP purchased a new stake in shares of Direxion Daily PANW Bear 1X Shares in the third quarter worth about $458,000. Finally, Optiver Holding B.V. lifted its position in shares of Direxion Daily PANW Bear 1X Shares by 60.0% in the first quarter. Optiver Holding B.V. now owns 27,598 shares of the company’s stock worth $735,000 after buying an additional 10,350 shares in the last quarter.

Direxion Daily PANW Bear 1X Shares Stock Performance

Shares of NASDAQ:PALD opened at $11.19 on Friday. The firm has a fifty day moving average price of $14.53 and a 200 day moving average price of $21.64. Direxion Daily PANW Bear 1X Shares has a fifty-two week low of $10.89 and a fifty-two week high of $30.87.

Direxion Daily PANW Bear 1X Shares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were paid a $0.0347 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $0.14 annualized dividend and a yield of 1.2%.

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.