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

Direxion Daily PANW Bear 1X Shares (NASDAQ:PALD) saw a large increase in short interest in June. As of June 30th, there was short interest totaling 16,396 shares, an increase 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 currently 0.2 days. Currently, 8.2% of the shares of the stock are sold short.

Direxion Daily PANW Bear 1X Shares Stock Up 0.1%

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

Direxion Daily PANW Bear 1X Shares Dividend Announcement

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

Institutional Trading of Direxion Daily PANW Bear 1X Shares

Several institutional investors have recently made changes to their positions in PALD. Susquehanna International Group LLP bought a new stake in Direxion Daily PANW Bear 1X Shares during the 3rd quarter valued at approximately $458,000. Goldman Sachs Group Inc. bought a new position in Direxion Daily PANW Bear 1X Shares in the 1st quarter worth approximately $693,000. Finally, Optiver Holding B.V. boosted its stake in Direxion Daily PANW Bear 1X Shares by 60.0% in the 1st quarter. Optiver Holding B.V. now owns 27,598 shares of the company’s stock worth $735,000 after purchasing an additional 10,350 shares during the period.

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.