Direxion Daily Real Estate Bull 3X Shares (NYSEARCA:DRN) Short Interest Up 22.6% in April

Direxion Daily Real Estate Bull 3X Shares (NYSEARCA:DRN) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totaling 507,408 shares, a growth of 22.6% from the March 31st total of 413,891 shares. Currently, 11.4% of the shares of the company are short sold. Based on an average daily volume of 1,829,954 shares, the short-interest ratio is currently 0.3 days.

Direxion Daily Real Estate Bull 3X Shares Price Performance

Shares of NYSEARCA DRN traded down $0.07 during trading hours on Friday, hitting $10.82. 901,905 shares of the company’s stock were exchanged, compared to its average volume of 973,460. The company’s 50-day moving average price is $9.80 and its 200-day moving average price is $9.31. Direxion Daily Real Estate Bull 3X Shares has a 1-year low of $8.05 and a 1-year high of $11.16. The stock has a market capitalization of $47.61 million, a price-to-earnings ratio of 35.32 and a beta of 2.93.

Institutional Investors Weigh In On Direxion Daily Real Estate Bull 3X Shares

Hedge funds have recently modified their holdings of the business. Group One Trading LLC increased its position in Direxion Daily Real Estate Bull 3X Shares by 71.5% during the second quarter. Group One Trading LLC now owns 5,544 shares of the company’s stock worth $53,000 after acquiring an additional 2,312 shares during the period. Virtu Financial LLC boosted its holdings in Direxion Daily Real Estate Bull 3X Shares by 588.5% in the 3rd quarter. Virtu Financial LLC now owns 98,638 shares of the company’s stock valued at $966,000 after purchasing an additional 84,311 shares during the period. Finally, Innova Wealth Partners bought a new stake in Direxion Daily Real Estate Bull 3X Shares in the 1st quarter valued at $114,000.

Direxion Daily Real Estate Bull 3X Shares Company Profile

The Direxion Daily Real Estate Bull 3X Shares (DRN) is an exchange-traded fund that is based on the S&P Real Estate Select Sector index. The fund provides 3x leveraged exposure to an index that captures large cap equities of the US real estate segment. DRN was launched on Jul 16, 2009 and is managed by Direxion.