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

Direxion Daily S&P 500 High Beta Bull 3X ETF (NYSEARCA:HIBL) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 89,916 shares, a growth of 241.5% from the August 15th total of 26,327 shares. Based on an average daily volume of 41,759 shares, the days-to-cover ratio is currently 2.2 days. Approximately 11.1% of the shares of the company are sold short.

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

Shares of HIBL stock traded up $6.49 during trading on Friday, hitting $105.82. The company had a trading volume of 55,490 shares, compared to its average volume of 68,648. The firm has a market capitalization of $85.71 million, a P/E ratio of 14.26 and a beta of 4.36. The stock’s 50-day moving average price is $104.82 and its 200 day moving average price is $96.29. Direxion Daily S&P 500 High Beta Bull 3X ETF has a one year low of $46.94 and a one year high of $138.11.

Hedge Funds Weigh In On Direxion Daily S&P 500 High Beta Bull 3X ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HIBL. Virtu Financial LLC grew its holdings in shares of Direxion Daily S&P 500 High Beta Bull 3X ETF 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 purchasing an additional 16,731 shares in the last quarter. Group One Trading LLC acquired a new position in Direxion Daily S&P 500 High Beta Bull 3X ETF in the fourth quarter valued at about $39,000. Susquehanna International Group LLP raised its stake in Direxion Daily S&P 500 High Beta Bull 3X ETF by 4.9% in 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 position in Direxion Daily S&P 500 High Beta Bull 3X ETF 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 period. Finally, Jane Street Group LLC bought a new stake in Direxion Daily S&P 500 High Beta Bull 3X ETF during the second quarter worth about $1,659,000.

Direxion Daily S&P 500 High Beta Bull 3X ETF Company Profile

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.