Short Interest in Direxion Daily Small Cap Bear 3X Shares (NYSEARCA:TZA) Drops By 85.1%

Direxion Daily Small Cap Bear 3X Shares (NYSEARCA:TZA) was the target of a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 1,407,834 shares, a drop of 85.1% from the June 30th total of 9,473,620 shares. Approximately 27.7% of the company’s shares are short sold. Based on an average daily trading volume, of 21,895,668 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Investors Weigh In On Direxion Daily Small Cap Bear 3X Shares

A number of hedge funds have recently modified their holdings of the business. Jump Financial LLC grew its stake in shares of Direxion Daily Small Cap Bear 3X Shares by 4,731.7% during the 4th quarter. Jump Financial LLC now owns 1,196,532 shares of the exchange traded fund’s stock worth $8,986,000 after acquiring an additional 1,171,768 shares in the last quarter. Virtu Financial LLC lifted its position in shares of Direxion Daily Small Cap Bear 3X Shares by 1,453.9% in the fourth quarter. Virtu Financial LLC now owns 533,377 shares of the exchange traded fund’s stock worth $4,006,000 after purchasing an additional 499,052 shares in the last quarter. Group One Trading LLC boosted its holdings in Direxion Daily Small Cap Bear 3X Shares by 1,515.8% during the first quarter. Group One Trading LLC now owns 253,630 shares of the exchange traded fund’s stock worth $1,780,000 after purchasing an additional 237,933 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Direxion Daily Small Cap Bear 3X Shares during the first quarter worth $702,000. Finally, DRW Securities LLC bought a new position in Direxion Daily Small Cap Bear 3X Shares in the fourth quarter valued at $492,000.

Direxion Daily Small Cap Bear 3X Shares Stock Performance

TZA stock traded up $0.44 during midday trading on Friday, hitting $41.83. 2,313,758 shares of the company’s stock were exchanged, compared to its average volume of 18,260,379. The stock’s fifty day moving average price is $42.06 and its 200-day moving average price is $54.45. Direxion Daily Small Cap Bear 3X Shares has a one year low of $37.10 and a one year high of $123.75.

Direxion Daily Small Cap Bear 3X Shares Company Profile

Direxion Daily Small Cap Bear 3X Shares (the Fund) seeks daily investment results of 300% of the inverse (or opposite) of the price performance of the Russell 2000 Index (the Small Cap Index). The Small Cap Index measures the performance of the small-cap segment of the United States equity universe and consists of the smallest 2,000 companies in the Russell 3000 Index, representing approximately 10% of the total market capitalization of the Russell 3000 Index. It includes approximately 2,000 of the smallest securities based on a combination of their market cap and current index membership.