Direxion Daily S&P 500 High Beta Bull 3X Shares (NYSEARCA:HIBL) Short Interest Up 114.4% in July

Direxion Daily S&P 500 High Beta Bull 3X Shares (NYSEARCA:HIBL) was the recipient of a large growth in short interest in July. As of July 31st, there was short interest totaling 30,412 shares, a growth of 114.4% from the July 15th total of 14,187 shares. Currently, 3.8% of the shares of the stock are short sold. Based on an average trading volume of 58,396 shares, the short-interest ratio is presently 0.5 days.

Direxion Daily S&P 500 High Beta Bull 3X Shares Stock Up 0.3%

Shares of NYSEARCA:HIBL traded up $0.34 during trading on Friday, reaching $115.72. 48,299 shares of the company traded hands, compared to its average volume of 71,708. The firm has a market capitalization of $93.73 million, a PE ratio of 14.26 and a beta of 4.35. Direxion Daily S&P 500 High Beta Bull 3X Shares has a 52 week low of $45.51 and a 52 week high of $138.11. The company’s 50 day moving average is $111.11 and its two-hundred day moving average is $91.88.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HIBL. Jane Street Group LLC acquired a new stake in Direxion Daily S&P 500 High Beta Bull 3X Shares during the second quarter worth about $1,659,000. Tower Research Capital LLC TRC increased its stake in Direxion Daily S&P 500 High Beta Bull 3X Shares by 131.4% in the second quarter. Tower Research Capital LLC TRC now owns 33,572 shares of the company’s stock valued at $1,443,000 after acquiring an additional 19,063 shares during the last quarter. Virtu Financial LLC raised its position in Direxion Daily S&P 500 High Beta Bull 3X Shares by 347.5% during the fourth quarter. Virtu Financial LLC now owns 21,545 shares of the company’s stock valued at $1,415,000 after purchasing an additional 16,731 shares in the last quarter. Susquehanna International Group LLP raised its position in Direxion Daily S&P 500 High Beta Bull 3X Shares by 4.9% during the third quarter. Susquehanna International Group LLP now owns 69,556 shares of the company’s stock valued at $4,104,000 after purchasing an additional 3,247 shares in the last quarter. Finally, Group One Trading LLC bought a new stake in Direxion Daily S&P 500 High Beta Bull 3X Shares during the fourth quarter worth $39,000.

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

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.