Short Interest in Direxion Daily Utilities Bull 3X Shares (NYSEARCA:UTSL) Drops By 58.6%

Direxion Daily Utilities Bull 3X Shares (NYSEARCA:UTSL) was the recipient of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 36,971 shares, a decrease of 58.6% from the June 15th total of 89,321 shares. Based on an average daily volume of 119,403 shares, the short-interest ratio is presently 0.3 days. Currently, 3.7% of the company’s stock are sold short.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Direxion Daily Utilities Bull 3X Shares stock. Virtu Financial LLC grew its stake in Direxion Daily Utilities Bull 3X Shares (NYSEARCA:UTSL) by 208.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,201 shares of the company’s stock after acquiring an additional 19,725 shares during the quarter. Virtu Financial LLC owned 2.43% of Direxion Daily Utilities Bull 3X Shares worth $1,184,000 at the end of the most recent quarter.

Direxion Daily Utilities Bull 3X Shares Trading Down 2.9%

NYSEARCA UTSL opened at $45.07 on Thursday. Direxion Daily Utilities Bull 3X Shares has a 12 month low of $36.40 and a 12 month high of $55.21. The business has a fifty day simple moving average of $44.27 and a 200 day simple moving average of $45.91. The firm has a market capitalization of $45.07 million, a P/E ratio of 21.39 and a beta of 1.70.

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.