Short Interest in Direxion Daily Utilities Bull 3X Shares (NYSEARCA:UTSL) Declines By 58.6%

Direxion Daily Utilities Bull 3X Shares (NYSEARCA:UTSL) saw a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 36,971 shares, a drop of 58.6% from the June 15th total of 89,321 shares. Currently, 3.7% of the company’s shares are sold short. Based on an average daily volume of 119,403 shares, the days-to-cover ratio is currently 0.3 days.

Direxion Daily Utilities Bull 3X Shares Stock Down 0.2%

Shares of NYSEARCA UTSL traded down $0.08 during trading on Tuesday, hitting $46.42. 77,554 shares of the company traded hands, compared to its average volume of 118,600. Direxion Daily Utilities Bull 3X Shares has a 1 year low of $36.40 and a 1 year high of $55.21. The company has a 50-day moving average price of $44.38 and a 200-day moving average price of $45.84. The firm has a market capitalization of $46.42 million, a P/E ratio of 21.39 and a beta of 1.70.

Institutional Investors Weigh In On Direxion Daily Utilities Bull 3X Shares

An institutional investor recently raised its stake in Direxion Daily Utilities Bull 3X Shares stock. Virtu Financial LLC grew its position in Direxion Daily Utilities Bull 3X Shares (NYSEARCA:UTSL) by 208.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,201 shares of the company’s stock after purchasing an additional 19,725 shares during the period. Virtu Financial LLC owned approximately 2.43% of Direxion Daily Utilities Bull 3X Shares worth $1,184,000 as of its most recent SEC filing.

Direxion Daily Utilities Bull 3X Shares Company Profile

The Direxion Daily Utilities Bull 3X Shares (UTSL) is an exchange-traded fund that is based on the Utilities Select Sector index. The fund provides daily 3x exposure to a market-cap-weighted index of utility companies in the US. UTSL was launched on May 3, 2017 and is managed by Direxion.