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

Direxion Daily Pharmaceutical & Medical Bull 3X ETF (NYSEARCA:PILL) was the target of a large growth in short interest in October. As of October 15th, there was short interest totaling 41,214 shares, a growth of 130.5% from the September 30th total of 17,878 shares. Based on an average daily volume of 47,940 shares, the days-to-cover ratio is currently 0.9 days. Approximately 3.9% of the shares of the stock are sold short.

Direxion Daily Pharmaceutical & Medical Bull 3X ETF Stock Performance

Shares of PILL stock traded down $0.44 on Friday, hitting $15.21. 238,721 shares of the stock traded hands, compared to its average volume of 79,380. Direxion Daily Pharmaceutical & Medical Bull 3X ETF has a twelve month low of $7.74 and a twelve month high of $24.15. The firm’s 50-day moving average price is $17.25 and its two-hundred day moving average price is $14.87. The stock has a market capitalization of $15.97 million, a PE ratio of 10.33 and a beta of 1.79.

Direxion Daily Pharmaceutical & Medical Bull 3X ETF Company Profile

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.