Short Interest in Direxion Daily Utilities Bull 3X Shares (NYSEARCA:UTSL) Drops By 57.4%

Direxion Daily Utilities Bull 3X Shares (NYSEARCA:UTSL) saw a significant drop in short interest in the month of April. As of April 30th, there was short interest totaling 10,593 shares, a drop of 57.4% from the April 15th total of 24,893 shares. Based on an average daily trading volume, of 91,303 shares, the days-to-cover ratio is currently 0.1 days. Currently, 1.2% of the company’s shares are short sold.

Direxion Daily Utilities Bull 3X Shares Trading Down 6.7%

Shares of UTSL traded down $3.02 during midday trading on Friday, hitting $41.80. The stock had a trading volume of 142,483 shares, compared to its average volume of 123,539. Direxion Daily Utilities Bull 3X Shares has a fifty-two week low of $33.74 and a fifty-two week high of $55.21. The business has a 50-day simple moving average of $48.85 and a two-hundred day simple moving average of $45.94. The firm has a market cap of $35.53 million, a P/E ratio of 21.39 and a beta of 1.79.

Hedge Funds Weigh In On Direxion Daily Utilities Bull 3X Shares

An institutional investor recently raised its position in Direxion Daily Utilities Bull 3X Shares stock. Tower Research Capital LLC TRC lifted its stake in Direxion Daily Utilities Bull 3X Shares (NYSEARCA:UTSL) by 32.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 filing with the Securities and Exchange Commission (SEC).

About Direxion Daily Utilities Bull 3X Shares

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.