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

Direxion Daily S&P 500 High Beta Bull 3X ETF (NYSEARCA:HIBL) saw a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 56,116 shares, an increase of 131.1% from the September 30th total of 24,283 shares. Currently, 6.2% of the shares of the company are sold short. Based on an average daily volume of 52,378 shares, the days-to-cover ratio is presently 1.1 days.

Direxion Daily S&P 500 High Beta Bull 3X ETF Stock Performance

Shares of Direxion Daily S&P 500 High Beta Bull 3X ETF stock traded down $13.85 during trading on Friday, reaching $79.56. The company’s stock had a trading volume of 104,061 shares, compared to its average volume of 65,604. The business’s fifty day moving average price is $103.20 and its 200-day moving average price is $94.08. Direxion Daily S&P 500 High Beta Bull 3X ETF has a one year low of $46.94 and a one year high of $138.11. The firm has a market cap of $68.42 million, a price-to-earnings ratio of 14.26 and a beta of 4.42.

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

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.