Direxion Daily S&P 500 High Beta Bull 3X Shares (NYSEARCA:HIBL) Sees Large Growth in Short Interest

Direxion Daily S&P 500 High Beta Bull 3X Shares (NYSEARCA:HIBL) was the target of a significant growth in short interest in July. As of July 31st, there was short interest totaling 30,412 shares, a growth of 114.4% from the July 15th total of 14,187 shares. Currently, 3.8% of the shares of the stock are sold short. Based on an average daily volume of 58,396 shares, the days-to-cover ratio is currently 0.5 days.

Direxion Daily S&P 500 High Beta Bull 3X Shares Stock Performance

Direxion Daily S&P 500 High Beta Bull 3X Shares stock traded up $0.34 during mid-day trading on Friday, hitting $115.72. 48,299 shares of the company traded hands, compared to its average volume of 71,708. Direxion Daily S&P 500 High Beta Bull 3X Shares has a one year low of $45.51 and a one year high of $138.11. The stock has a market cap of $93.73 million, a price-to-earnings ratio of 14.26 and a beta of 4.35. The stock has a fifty day moving average price of $111.11 and a 200-day moving average price of $91.88.

Institutional Trading of Direxion Daily S&P 500 High Beta Bull 3X Shares

A number of hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC lifted its holdings in shares of Direxion Daily S&P 500 High Beta Bull 3X Shares by 347.5% during the 4th quarter. Virtu Financial LLC now owns 21,545 shares of the company’s stock worth $1,415,000 after acquiring an additional 16,731 shares during the last quarter. Group One Trading LLC purchased a new stake in Direxion Daily S&P 500 High Beta Bull 3X Shares during the fourth quarter valued at about $39,000. Susquehanna International Group LLP raised its position in Direxion Daily S&P 500 High Beta Bull 3X Shares by 4.9% during the third quarter. Susquehanna International Group LLP now owns 69,556 shares of the company’s stock valued at $4,104,000 after purchasing an additional 3,247 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Direxion Daily S&P 500 High Beta Bull 3X Shares by 131.4% during the second quarter. Tower Research Capital LLC TRC now owns 33,572 shares of the company’s stock worth $1,443,000 after purchasing an additional 19,063 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Direxion Daily S&P 500 High Beta Bull 3X Shares during the second quarter worth about $1,659,000.

About Direxion Daily S&P 500 High Beta Bull 3X Shares

The Direxion Daily S&P 500 High Beta Bull 3X Shares (HIBL) is an exchange-traded fund that is based on the S&P 500 High Beta index. The fund provides 3x daily leveraged exposure to a beta-weighted index of 100 highest-beta stocks in the S&P 500. HIBL was launched on Nov 7, 2019 and is managed by Direxion.