Direxion Daily Mid Cap Bull 3X Shares (NYSEARCA:MIDU) Sees Large Growth in Short Interest

Direxion Daily Mid Cap Bull 3X Shares (NYSEARCA:MIDU) was the target of a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 21,034 shares, a growth of 108.8% from the July 15th total of 10,073 shares. Based on an average daily volume of 12,964 shares, the days-to-cover ratio is currently 1.6 days. Approximately 2.1% of the shares of the company are sold short.

Direxion Daily Mid Cap Bull 3X Shares Price Performance

MIDU stock traded up $0.67 during midday trading on Friday, reaching $77.85. 14,543 shares of the company were exchanged, compared to its average volume of 32,786. Direxion Daily Mid Cap Bull 3X Shares has a one year low of $42.74 and a one year high of $77.88. The firm has a market capitalization of $77.85 million, a price-to-earnings ratio of 18.98 and a beta of 3.04. The business has a 50-day moving average price of $71.30 and a two-hundred day moving average price of $64.38.

Institutional Trading of Direxion Daily Mid Cap Bull 3X Shares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC grew its stake in Direxion Daily Mid Cap Bull 3X Shares by 487.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 44,079 shares of the company’s stock valued at $2,234,000 after buying an additional 36,571 shares during the last quarter. Virtu Financial LLC acquired a new stake in Direxion Daily Mid Cap Bull 3X Shares during the third quarter worth approximately $1,585,000. Jane Street Group LLC lifted its position in Direxion Daily Mid Cap Bull 3X Shares by 6.3% during the fourth quarter. Jane Street Group LLC now owns 7,640 shares of the company’s stock worth $388,000 after acquiring an additional 453 shares during the last quarter. IMC Chicago LLC bought a new stake in shares of Direxion Daily Mid Cap Bull 3X Shares during the first quarter worth approximately $325,000. Finally, Tucker Asset Management LLC bought a new stake in shares of Direxion Daily Mid Cap Bull 3X Shares during the fourth quarter worth approximately $36,000.

About Direxion Daily Mid Cap Bull 3X Shares

The Direxion Daily Mid Cap Bull 3X Shares (MIDU) is an exchange-traded fund that is based on the S&P Mid Cap 400 index. The fund provides 3x leveraged exposure to a market cap-weighted index of US mid-cap companies. MIDU was launched on Jan 8, 2009 and is managed by Direxion.