Direxion Daily LLY Bull 2X ETF (NASDAQ:ELIL) Sees Significant Drop in Short Interest

Direxion Daily LLY Bull 2X ETF (NASDAQ:ELIL) was the target of a large drop in short interest in September. As of September 15th, there was short interest totaling 29,658 shares, a drop of 56.6% from the August 31st total of 68,316 shares. Based on an average daily volume of 68,100 shares, the days-to-cover ratio is currently 0.4 days. Approximately 4.8% of the shares of the stock are sold short.

Direxion Daily LLY Bull 2X ETF Price Performance

Shares of ELIL stock traded up $0.40 during trading hours on Monday, reaching $29.34. The company had a trading volume of 58,939 shares, compared to its average volume of 109,394. Direxion Daily LLY Bull 2X ETF has a 12-month low of $14.79 and a 12-month high of $35.13. The stock has a fifty day moving average of $29.17 and a 200-day moving average of $25.79.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Direxion Daily LLY Bull 2X ETF stock. IMC Chicago LLC acquired a new stake in Direxion Daily LLY Bull 2X ETF (NASDAQ:ELIL) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,928 shares of the company’s stock, valued at approximately $250,000. IMC Chicago LLC owned 1.62% of Direxion Daily LLY Bull 2X ETF at the end of the most recent quarter.

Direxion Daily LLY Bull 2X ETF Company Profile

Direxion Shares ETF Trust – Direxion Daily LLY Bull 2X Shares is an exchange traded fund launched by Direxion Investments. The fund is managed by Rafferty Asset Management, LLC. It invests in public equity markets. It invests through derivatives in stocks of companies operating across health care, pharmaceuticals, biotechnology and life sciences sectors. The fund uses derivatives such as swaps and options to create its portfolio. The fund invests in growth and value stocks of companies across diversified market capitalization.