Short Interest in Direxion Daily Mid Cap Bull 3X Shares (NYSEARCA:MIDU) Drops By 25.8%

Direxion Daily Mid Cap Bull 3X Shares (NYSEARCA:MIDU) was the target of a large drop in short interest in the month of December. As of December 15th, there was short interest totaling 38,373 shares, a drop of 25.8% from the November 30th total of 51,686 shares. Approximately 2.6% of the company’s shares are short sold. Based on an average daily trading volume, of 55,529 shares, the days-to-cover ratio is presently 0.7 days. Based on an average daily trading volume, of 55,529 shares, the days-to-cover ratio is presently 0.7 days. Approximately 2.6% of the company’s shares are short sold.

Direxion Daily Mid Cap Bull 3X Shares Stock Performance

NYSEARCA:MIDU traded down $1.67 on Wednesday, reaching $50.76. The company’s stock had a trading volume of 43,801 shares, compared to its average volume of 61,572. Direxion Daily Mid Cap Bull 3X Shares has a 1-year low of $25.30 and a 1-year high of $61.73. The firm has a market cap of $76.14 million, a PE ratio of 18.98 and a beta of 3.25. The business’s 50-day moving average price is $50.32 and its two-hundred day moving average price is $49.16.

Hedge Funds Weigh In On Direxion Daily Mid Cap Bull 3X Shares

Institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC raised its holdings in Direxion Daily Mid Cap Bull 3X Shares by 487.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 44,079 shares of the company’s stock worth $2,234,000 after buying an additional 36,571 shares during the period. Virtu Financial LLC acquired a new position in shares of Direxion Daily Mid Cap Bull 3X Shares in the third quarter valued at approximately $1,585,000. Finally, Toth Financial Advisory Corp increased its position in shares of Direxion Daily Mid Cap Bull 3X Shares by 206.4% during the third quarter. Toth Financial Advisory Corp now owns 14,500 shares of the company’s stock worth $735,000 after acquiring an additional 9,767 shares in the last quarter.

About Direxion Daily Mid Cap Bull 3X Shares

The Direxion Daily Mid Cap Bull 3X Shares (MIDU) is an exchange-traded fund that is based on the S&P Mid Cap 400 index. The fund provides 3x leveraged exposure to a market cap-weighted index of US mid-cap companies. MIDU was launched on Jan 8, 2009 and is managed by Direxion.