Direxion Daily PANW Bear 1X ETF
PALD
NASDAQ Global Select- -
USD
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Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Address
- 1301 Avenue of the Americas, 28th Floor New York City NY United States of America 10019
- IPO Date
- Mar 25, 2025
- CIK
- 0001445275
- Website
- direxion.com
- Similar Companies
- Business
- Direxion Daily PANW Bear 1X Shares (PALD) is an exchange-traded fund that seeks daily investment results, before fees and expenses, equal to 100% of the inverse (opposite) performance of the common shares of Palo Alto Networks, Inc. (NASDAQ: PANW); the fund employs derivatives such as swaps and options to achieve its short strategy objectives, targeting experienced traders who understand leverage and compounding risks associated with single-stock exposure rather than diversified indices. Launched on March 26, 2025, as part of Direxion's expanding lineup of daily leveraged and inverse single-stock ETFs, PALD complements the Direxion Daily PANW Bull 2X Shares (PALU), which provides 200% leveraged exposure to the same underlying security; both funds carry a net expense ratio of 0.95% (excluding certain costs) under an operating expense limitation agreement through September 1, 2026. The ETF operates with assets under management of approximately $3.68 million, 150,001 shares outstanding, and a dividend yield around 0.84% to 1.86% based on recent distributions, including $0.20414 paid on July 1, 2025. PALD forms part of Direxion Investments' broader portfolio of leveraged, inverse, and non-traditional ETFs and mutual funds, which enable investors to pursue opportunistic strategies across various market conditions in sectors like technology and cybersecurity via single-stock proxies such as PANW. Direxion Investments, founded in 1997 and headquartered at 1301 Avenue of the Americas in New York, NY, with additional offices in Boston, Alexandria (Virginia), and Hong Kong, manages the fund through Rafferty Asset Management, LLC; the firm focuses on public equity markets, particularly growth and value stocks across diversified market capitalizations using derivative instruments. In recent developments, Direxion launched PALD and PALU on March 26, 2025, as announced in a press release expanding its single-stock leveraged and inverse ETF offerings to include exposure to Eli Lilly (LLY) and Palo Alto Networks (PANW); this followed similar launches for AMD in February 2025, Boeing and Exxon Mobil in April 2025, Cisco and Qualcomm in June 2025, and Ford in July 2025. The company also partnered with SS&C ALPS Distributors in September 2024 to enhance medallion distribution services for its ETF and mutual fund range, accessing Registered Fund Services to support growth and wider network reach; additionally, Direxion appointed Mo Sparks as Chief Product Officer in April 2025 and announced index changes for select funds like NUGT and DUST effective September 19, 2025. These initiatives reflect Direxion's ongoing strategic expansion amid volatile market conditions, including a first Federal Reserve rate cut since December 2024 on September 17, 2025.