Direxion Daily PANW Bear 1X ETF (NASDAQ:PALD) Stock Price Crosses Above 50-Day Moving Average – What’s Next?

Direxion Daily PANW Bear 1X ETF (NASDAQ:PALD)’s share price passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $10.04 and traded as high as $10.25. Direxion Daily PANW Bear 1X ETF shares last traded at $10.23, with a volume of 173,246 shares trading hands.

Direxion Daily PANW Bear 1X ETF Stock Up 4.0%

The company has a 50 day moving average of $10.04 and a two-hundred day moving average of $17.34.

Institutional Trading of Direxion Daily PANW Bear 1X ETF

A hedge fund recently raised its position in Direxion Daily PANW Bear 1X ETF stock. Optiver Holding B.V. grew its holdings in Direxion Daily PANW Bear 1X ETF (NASDAQ:PALD) by 60.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,598 shares of the company’s stock after buying an additional 10,350 shares during the quarter. Optiver Holding B.V. owned 27.60% of Direxion Daily PANW Bear 1X ETF worth $735,000 as of its most recent SEC filing.

About Direxion Daily PANW Bear 1X ETF

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.