Direxion Daily S&P 500 High Beta Bull 3X ETF (NYSEARCA:HIBL) Sees Large Growth in Short Interest

Direxion Daily S&P 500 High Beta Bull 3X ETF (NYSEARCA:HIBL) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totaling 89,916 shares, a growth of 241.5% from the August 15th total of 26,327 shares. Based on an average trading volume of 41,759 shares, the short-interest ratio is currently 2.2 days. Approximately 11.1% of the company’s stock are short sold.

Direxion Daily S&P 500 High Beta Bull 3X ETF Trading Down 11.2%

HIBL traded down $11.82 during midday trading on Monday, reaching $94.00. The company’s stock had a trading volume of 30,168 shares, compared to its average volume of 68,401. Direxion Daily S&P 500 High Beta Bull 3X ETF has a 1 year low of $46.94 and a 1 year high of $138.11. The stock’s 50-day moving average is $104.82 and its 200-day moving average is $96.48. The firm has a market capitalization of $76.14 million, a price-to-earnings ratio of 14.26 and a beta of 4.36.

Institutional Trading of Direxion Daily S&P 500 High Beta Bull 3X ETF

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Group One Trading LLC purchased a new position in Direxion Daily S&P 500 High Beta Bull 3X ETF during the fourth quarter valued at $39,000. Virtu Financial LLC increased its holdings in shares of Direxion Daily S&P 500 High Beta Bull 3X ETF by 347.5% during the fourth quarter. Virtu Financial LLC now owns 21,545 shares of the company’s stock valued at $1,415,000 after acquiring an additional 16,731 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Direxion Daily S&P 500 High Beta Bull 3X ETF by 131.4% during the second quarter. Tower Research Capital LLC TRC now owns 33,572 shares of the company’s stock valued at $1,443,000 after acquiring an additional 19,063 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Direxion Daily S&P 500 High Beta Bull 3X ETF during the second quarter valued at $1,659,000. Finally, Susquehanna International Group LLP raised its position in shares of Direxion Daily S&P 500 High Beta Bull 3X ETF by 4.9% in the 3rd quarter. Susquehanna International Group LLP now owns 69,556 shares of the company’s stock worth $4,104,000 after purchasing an additional 3,247 shares during the last quarter.

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

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.