Direxion Daily Utilities Bull 3X Shares (NYSEARCA:UTSL) Sees Significant Increase in Short Interest

by · The Cerbat Gem

Direxion Daily Utilities Bull 3X Shares (NYSEARCA:UTSL – Get Free Report) was the recipient of a large increase in short interest in August. As of August 14th, there was short interest totaling 71,260 shares, an increase of 239.2% from the July 30th total of 21,007 shares. Approximately 7.9% of the shares of the company are short sold. Based on an average daily volume of 225,475 shares, the days-to-cover ratio is currently 0.3 days.

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. Tower Research Capital LLC TRC increased its holdings in Direxion Daily Utilities Bull 3X Shares (NYSEARCA:UTSL – Free Report) by 32.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,332 shares of the company’s stock after purchasing an additional 9,235 shares during the quarter. Tower Research Capital LLC TRC owned 4.67% of Direxion Daily Utilities Bull 3X Shares worth $1,382,000 at the end of the most recent reporting period.

Direxion Daily Utilities Bull 3X Shares Stock Performance

Shares of UTSL traded down $1.52 during trading hours on Friday, hitting $36.91. The stock had a trading volume of 181,084 shares, compared to its average volume of 125,408. The firm has a 50-day moving average price of $43.49 and a 200 day moving average price of $46.15. Direxion Daily Utilities Bull 3X Shares has a fifty-two week low of $36.78 and a fifty-two week high of $55.21. The firm has a market capitalization of $33.22 million, a price-to-earnings ratio of 21.39 and a beta of 1.70.

Direxion Daily Utilities Bull 3X Shares Company Profile

(Get Free Report)

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.

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