Direxion Daily Utilities Bull 3X ETF (NYSEARCA:UTSL) Sees Significant Decline in Short Interest

Direxion Daily Utilities Bull 3X ETF (NYSEARCA:UTSL) saw a significant drop in short interest in October. As of October 15th, there was short interest totaling 81,213 shares, a drop of 60.6% from the September 30th total of 206,167 shares. Based on an average daily volume of 334,751 shares, the days-to-cover ratio is currently 0.2 days. Currently, 4.1% of the company’s stock are short sold.

Direxion Daily Utilities Bull 3X ETF Price Performance

Shares of Direxion Daily Utilities Bull 3X ETF stock traded up $0.81 during trading hours on Friday, hitting $38.26. The company had a trading volume of 225,343 shares, compared to its average volume of 151,380. The company’s 50-day moving average is $34.53 and its two-hundred day moving average is $42.96. Direxion Daily Utilities Bull 3X ETF has a twelve month low of $28.21 and a twelve month high of $55.21. The company has a market cap of $70.78 million, a P/E ratio of 21.39 and a beta of 1.64.

About Direxion Daily Utilities Bull 3X ETF

The Direxion Daily Utilities Bull 3X Shares (UTSL) is an exchange-traded fund that is based on the Utilities Select Sector index. The fund provides daily 3x exposure to a market-cap-weighted index of utility companies in the US. UTSL was launched on May 3, 2017 and is managed by Direxion.