Direxion Daily Real Estate Bull 3X Shares (NYSEARCA:DRN) Sees Significant Growth in Short Interest

Direxion Daily Real Estate Bull 3X Shares (NYSEARCA:DRN) saw a large increase in short interest during the month of April. As of April 15th, there was short interest totaling 507,408 shares, an increase of 22.6% from the March 31st total of 413,891 shares. Based on an average daily volume of 1,829,954 shares, the days-to-cover ratio is currently 0.3 days. Approximately 11.4% of the company’s stock are sold short.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Virtu Financial LLC increased its stake in shares of Direxion Daily Real Estate Bull 3X Shares by 588.5% during the 3rd quarter. Virtu Financial LLC now owns 98,638 shares of the company’s stock worth $966,000 after purchasing an additional 84,311 shares during the last quarter. Group One Trading LLC increased its stake in shares of Direxion Daily Real Estate Bull 3X Shares by 101.3% during the 3rd quarter. Group One Trading LLC now owns 11,162 shares of the company’s stock worth $109,000 after purchasing an additional 5,618 shares during the last quarter. Finally, Innova Wealth Partners acquired a new position in shares of Direxion Daily Real Estate Bull 3X Shares during the 1st quarter worth $114,000.

Direxion Daily Real Estate Bull 3X Shares Stock Down 0.6%

Shares of DRN traded down $0.07 during mid-day trading on Friday, hitting $10.82. 901,905 shares of the company’s stock were exchanged, compared to its average volume of 973,460. The firm has a fifty day moving average of $9.80 and a two-hundred day moving average of $9.31. Direxion Daily Real Estate Bull 3X Shares has a twelve month low of $8.05 and a twelve month high of $11.16. The stock has a market cap of $47.61 million, a price-to-earnings ratio of 35.32 and a beta of 2.93.

Direxion Daily Real Estate Bull 3X Shares Company Profile

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