Direxion Daily Utilities Bull 3X ETF (NYSEARCA:UTSL) Stock Short Interest Falls 41.6%

Direxion Daily Utilities Bull 3X ETF (NYSEARCA:UTSL) was the target of a large decline in short interest in September. As of September 15th, there was short interest totaling 48,901 shares, a decline of 41.6% from the August 31st total of 83,714 shares. Based on an average daily volume of 156,095 shares, the days-to-cover ratio is currently 0.3 days. Currently, 3.5% of the shares of the stock are short sold.

Institutional Investors Weigh In On Direxion Daily Utilities Bull 3X ETF

A hedge fund recently raised its position in Direxion Daily Utilities Bull 3X ETF stock. Virtu Financial LLC raised its position in shares of Direxion Daily Utilities Bull 3X ETF (NYSEARCA:UTSL) by 208.2% in the fourth 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 buying an additional 19,725 shares during the quarter. Virtu Financial LLC owned 2.43% of Direxion Daily Utilities Bull 3X ETF worth $1,184,000 at the end of the most recent quarter.

Direxion Daily Utilities Bull 3X ETF Stock Up 1.7%

NYSEARCA:UTSL traded up $0.51 during trading hours on Friday, reaching $30.14. 353,497 shares of the company’s stock were exchanged, compared to its average volume of 138,700. The company has a market capitalization of $52.75 million, a P/E ratio of 21.39 and a beta of 1.64. Direxion Daily Utilities Bull 3X ETF has a 12 month low of $28.21 and a 12 month high of $55.21. The business’s 50-day simple moving average is $37.55 and its two-hundred day simple moving average is $43.21.

Direxion Daily Utilities Bull 3X ETF 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.