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

Direxion Daily Pharmaceutical & Medical Bull 3X Shares (NYSEARCA:PILL) was the target of a significant growth in short interest in July. As of July 31st, there was short interest totaling 37,987 shares, a growth of 77.9% from the July 15th total of 21,349 shares. Currently, 3.5% of the shares of the stock are sold short. Based on an average daily volume of 63,906 shares, the days-to-cover ratio is currently 0.6 days.

Direxion Daily Pharmaceutical & Medical Bull 3X Shares Stock Performance

Direxion Daily Pharmaceutical & Medical Bull 3X Shares stock traded up $0.70 during mid-day trading on Tuesday, hitting $21.56. 32,982 shares of the company traded hands, compared to its average volume of 87,608. Direxion Daily Pharmaceutical & Medical Bull 3X Shares has a one year low of $7.06 and a one year high of $22.10. The stock has a market cap of $23.72 million, a price-to-earnings ratio of 10.33 and a beta of 1.72. The stock has a fifty day moving average price of $18.02 and a 200-day moving average price of $13.99.

Direxion Daily Pharmaceutical & Medical Bull 3X Shares 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.