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

Direxion Daily Utilities Bull 3X Shares (NYSEARCA:UTSL) was the target of a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 71,260 shares, a growth of 239.2% from the July 30th total of 21,007 shares. Approximately 7.9% of the company’s shares are short sold. Based on an average daily volume of 225,475 shares, the short-interest ratio is currently 0.3 days.

Direxion Daily Utilities Bull 3X Shares Stock Performance

Shares of Direxion Daily Utilities Bull 3X Shares stock opened at $39.32 on Thursday. The stock has a market cap of $35.39 million, a price-to-earnings ratio of 21.39 and a beta of 1.70. The stock has a 50 day moving average price of $43.59 and a 200-day moving average price of $46.18. Direxion Daily Utilities Bull 3X Shares has a one year low of $36.83 and a one year high of $55.21.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Direxion Daily Utilities Bull 3X Shares stock. Tower Research Capital LLC TRC raised its position in Direxion Daily Utilities Bull 3X Shares (NYSEARCA:UTSL) by 32.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,332 shares of the company’s stock after purchasing an additional 9,235 shares during the quarter. Tower Research Capital LLC TRC owned 4.67% of Direxion Daily Utilities Bull 3X Shares worth $1,382,000 as of its most recent SEC filing.

Direxion Daily Utilities Bull 3X Shares Company Profile

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.