Direxion Daily Real Estate Bear 3X Shares (NYSEARCA:DRV) Short Interest Up 18.3% in March

Direxion Daily Real Estate Bear 3X Shares (NYSEARCA:DRV) was the target of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 70,134 shares, an increase of 18.3% from the February 26th total of 59,280 shares. Based on an average daily trading volume, of 158,313 shares, the days-to-cover ratio is currently 0.4 days. Approximately 4.4% of the shares of the stock are short sold.

Direxion Daily Real Estate Bear 3X Shares Stock Performance

NYSEARCA:DRV traded down $0.59 during trading hours on Tuesday, hitting $25.58. The company’s stock had a trading volume of 16,123 shares, compared to its average volume of 145,181. Direxion Daily Real Estate Bear 3X Shares has a twelve month low of $20.46 and a twelve month high of $41.00. The stock has a fifty day simple moving average of $23.29 and a 200-day simple moving average of $24.64.

Institutional Investors Weigh In On Direxion Daily Real Estate Bear 3X Shares

A number of hedge funds have recently made changes to their positions in DRV. Group One Trading LLC grew its holdings in shares of Direxion Daily Real Estate Bear 3X Shares by 106.9% during the 2nd quarter. Group One Trading LLC now owns 3,662 shares of the company’s stock valued at $92,000 after purchasing an additional 1,892 shares during the last quarter. J. Safra Sarasin Holding AG bought a new position in Direxion Daily Real Estate Bear 3X Shares in the 4th quarter valued at approximately $265,000. Quadrature Capital Ltd bought a new position in Direxion Daily Real Estate Bear 3X Shares in the 4th quarter valued at approximately $335,000. Finally, Virtu Financial LLC boosted its position in Direxion Daily Real Estate Bear 3X Shares by 17.6% in the fourth quarter. Virtu Financial LLC now owns 37,463 shares of the company’s stock valued at $994,000 after buying an additional 5,614 shares in the last quarter.

About Direxion Daily Real Estate Bear 3X Shares

The Direxion Daily Real Estate Bear 3X Shares (DRV) is an exchange-traded fund that is based on the S&P Real Estate Select Sector index. The fund provides 3x leveraged inverse exposure to an index that captures large cap equities of the US real estate segment. DRV was launched on Jul 16, 2009 and is managed by Direxion.