Direxion Daily S&P 500 High Beta Bull 3X ETF (NYSEARCA:HIBL) Stock Short Interest Declines 66.5%

Direxion Daily S&P 500 High Beta Bull 3X ETF (NYSEARCA:HIBL) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totaling 30,102 shares, a decrease of 66.5% from the August 31st total of 89,916 shares. Based on an average daily volume of 47,141 shares, the short-interest ratio is presently 0.6 days. Currently, 4.2% of the shares of the stock are short sold.

Direxion Daily S&P 500 High Beta Bull 3X ETF Stock Down 5.2%

Direxion Daily S&P 500 High Beta Bull 3X ETF stock traded down $5.99 during trading hours on Monday, hitting $109.09. The stock had a trading volume of 40,257 shares, compared to its average volume of 66,856. The business’s 50 day simple moving average is $104.38 and its 200-day simple moving average is $99.14. Direxion Daily S&P 500 High Beta Bull 3X ETF has a one year low of $46.94 and a one year high of $138.11. The stock has a market cap of $77.45 million, a price-to-earnings ratio of 14.26 and a beta of 4.36.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Direxion Daily S&P 500 High Beta Bull 3X ETF stock. Virtu Financial LLC increased its holdings in shares of Direxion Daily S&P 500 High Beta Bull 3X ETF (NYSEARCA:HIBL) by 347.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,545 shares of the company’s stock after buying an additional 16,731 shares during the period. Virtu Financial LLC owned about 2.66% of Direxion Daily S&P 500 High Beta Bull 3X ETF worth $1,415,000 at the end of the most recent quarter.

About Direxion Daily S&P 500 High Beta Bull 3X ETF

The Direxion Daily S&P 500 High Beta Bull 3X Shares (HIBL) is an exchange-traded fund that is based on the S&P 500 High Beta index. The fund provides 3x daily leveraged exposure to a beta-weighted index of 100 highest-beta stocks in the S&P 500. HIBL was launched on Nov 7, 2019 and is managed by Direxion.