Direxion Daily Pharmaceutical & Medical Bull 3X ETF (NYSEARCA:PILL) Sees Significant Increase in Short Interest

Direxion Daily Pharmaceutical & Medical Bull 3X ETF (NYSEARCA:PILL) saw a large increase in short interest in August. As of August 31st, there was short interest totaling 47,503 shares, an increase of 62.4% from the August 15th total of 29,257 shares. Based on an average daily trading volume, of 60,663 shares, the days-to-cover ratio is currently 0.8 days. Currently, 4.3% of the shares of the stock are sold short.

Direxion Daily Pharmaceutical & Medical Bull 3X ETF Trading Up 4.3%

Direxion Daily Pharmaceutical & Medical Bull 3X ETF stock traded up $0.74 during mid-day trading on Thursday, hitting $18.17. The stock had a trading volume of 28,747 shares, compared to its average volume of 84,047. Direxion Daily Pharmaceutical & Medical Bull 3X ETF has a one year low of $7.06 and a one year high of $24.15. The firm has a market capitalization of $18.35 million, a P/E ratio of 10.33 and a beta of 1.76. The firm’s 50 day moving average is $20.17 and its 200 day moving average is $15.28.

Direxion Daily Pharmaceutical & Medical Bull 3X ETF Company Profile

The Direxion Daily Pharmaceutical & Medical Bull 3X Shares ETF (PILL) is an exchange-traded fund that is based on the S&P Pharmaceuticals Select Industry index. The fund provides 3x daily exposure to a modified equal-weighted index of pharmaceutical companies in the US. PILL was launched on Nov 15, 2017 and is managed by Direxion.