Direxion Daily Utilities Bull 3X Shares (NYSEARCA:UTSL) Short Interest Up 414.7% in May

Direxion Daily Utilities Bull 3X Shares (NYSEARCA:UTSL) was the target of a significant growth in short interest in May. As of May 15th, there was short interest totaling 54,520 shares, a growth of 414.7% from the April 30th total of 10,593 shares. Approximately 6.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 89,901 shares, the days-to-cover ratio is presently 0.6 days.

Direxion Daily Utilities Bull 3X Shares Price Performance

NYSEARCA:UTSL traded down $0.62 during trading hours on Friday, reaching $43.04. 82,582 shares of the company were exchanged, compared to its average volume of 119,715. The company has a market capitalization of $36.58 million, a P/E ratio of 21.39 and a beta of 1.79. Direxion Daily Utilities Bull 3X Shares has a 1-year low of $34.23 and a 1-year high of $55.21. The business has a 50 day moving average of $47.38 and a 200 day moving average of $45.74.

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

A hedge fund recently raised its stake in Direxion Daily Utilities Bull 3X Shares stock. Virtu Financial LLC boosted its holdings in shares of Direxion Daily Utilities Bull 3X Shares (NYSEARCA:UTSL) by 208.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,201 shares of the company’s stock after purchasing an additional 19,725 shares during the period. Virtu Financial LLC owned about 2.43% of Direxion Daily Utilities Bull 3X Shares worth $1,184,000 at the end of the most recent quarter.

About Direxion Daily Utilities Bull 3X Shares

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.