Direxion Daily Utilities Bull 3X Shares (NYSEARCA:UTSL) Sees Significant Increase in Short Interest

Direxion Daily Utilities Bull 3X Shares (NYSEARCA:UTSL) saw a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 71,260 shares, a growth of 239.2% from the July 30th total of 21,007 shares. Currently, 7.9% of the company’s shares are sold short. Based on an average trading volume of 225,475 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

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

Direxion Daily Utilities Bull 3X Shares Trading Up 1.4%

NYSEARCA:UTSL opened at $39.32 on Thursday. Direxion Daily Utilities Bull 3X Shares has a twelve month low of $36.83 and a twelve month high of $55.21. The company has a market cap of $35.39 million, a price-to-earnings ratio of 21.39 and a beta of 1.70. The stock has a fifty day simple moving average of $43.59 and a 200-day simple moving average of $46.18.

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.