Direxion Daily Pharmaceutical & Medical Bull 3X Shares (NYSEARCA:PILL) Sees Significant Drop in Short Interest
by Danessa Lincoln · The Markets DailyDirexion Daily Pharmaceutical & Medical Bull 3X Shares (NYSEARCA:PILL – Get Free Report) was the target of a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 36,166 shares, a drop of 73.8% from the February 26th total of 137,983 shares. Based on an average daily volume of 156,385 shares, the days-to-cover ratio is presently 0.2 days. Currently, 2.3% of the shares of the stock are sold short. Currently, 2.3% of the shares of the stock are sold short. Based on an average daily volume of 156,385 shares, the days-to-cover ratio is presently 0.2 days.
Direxion Daily Pharmaceutical & Medical Bull 3X Shares Price Performance
Shares of PILL traded up $0.69 during midday trading on Wednesday, hitting $10.20. 123,274 shares of the company traded hands, compared to its average volume of 123,135. The stock has a 50-day moving average of $11.89 and a 200-day moving average of $10.55. Direxion Daily Pharmaceutical & Medical Bull 3X Shares has a one year low of $3.62 and a one year high of $13.67. The firm has a market cap of $15.81 million, a P/E ratio of 10.33 and a beta of 1.78.
About Direxion Daily Pharmaceutical & Medical Bull 3X Shares
The Direxion Daily Pharmaceutical & Medical Bull 3X Shares ETF (PILL) is an exchange-traded fund that is based on the S&P Pharmaceuticals Select Industry index. The fund provides 3x daily exposure to a modified equal-weighted index of pharmaceutical companies in the US. PILL was launched on Nov 15, 2017 and is managed by Direxion.