Direxion Daily Pharmaceutical & Medical Bull 3X ETF (NYSEARCA:PILL) Sees Significant Drop in Short Interest

Direxion Daily Pharmaceutical & Medical Bull 3X ETF (NYSEARCA:PILL) was the target of a significant decline in short interest in September. As of September 30th, there was short interest totaling 17,878 shares, a decline of 52.0% from the September 15th total of 37,247 shares. Based on an average daily trading volume, of 45,224 shares, the days-to-cover ratio is currently 0.4 days. Currently, 1.6% of the shares of the stock are sold short.

Direxion Daily Pharmaceutical & Medical Bull 3X ETF Price Performance

NYSEARCA PILL traded down $0.01 during trading on Wednesday, reaching $13.69. The company’s stock had a trading volume of 37,918 shares, compared to its average volume of 80,562. Direxion Daily Pharmaceutical & Medical Bull 3X ETF has a one year low of $7.74 and a one year high of $24.15. The stock has a market capitalization of $15.06 million, a PE ratio of 10.33 and a beta of 1.79. The firm has a fifty day moving average of $18.98 and a 200 day moving average of $15.98.

About Direxion Daily Pharmaceutical & Medical Bull 3X ETF

The Direxion Daily Pharmaceutical & Medical Bull 3X Shares ETF (PILL) is an exchange-traded fund that is based on the S&P Pharmaceuticals Select Industry index. The fund provides 3x daily exposure to a modified equal-weighted index of pharmaceutical companies in the US. PILL was launched on Nov 15, 2017 and is managed by Direxion.