Direxion Daily Pharmaceutical & Medical Bull 3X ETF (NYSEARCA:PILL) Sees Significant Growth in Short Interest

Direxion Daily Pharmaceutical & Medical Bull 3X ETF (NYSEARCA:PILL) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totaling 47,503 shares, an increase of 62.4% from the August 15th total of 29,257 shares. Approximately 4.3% of the shares of the company are sold short. Based on an average daily trading volume, of 60,663 shares, the days-to-cover ratio is currently 0.8 days.

Direxion Daily Pharmaceutical & Medical Bull 3X ETF Stock Performance

Shares of NYSEARCA PILL traded up $0.74 during trading on Thursday, hitting $18.17. The company had a trading volume of 28,747 shares, compared to its average volume of 84,047. The stock has a 50 day simple moving average of $20.17 and a 200 day simple moving average of $15.28. Direxion Daily Pharmaceutical & Medical Bull 3X ETF has a 12 month low of $7.06 and a 12 month high of $24.15. The firm has a market capitalization of $18.35 million, a P/E ratio of 10.33 and a beta of 1.76.

Direxion Daily Pharmaceutical & Medical Bull 3X ETF Company Profile

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.