Direxion Daily S&P 500 High Beta Bull 3X ETF (NYSEARCA:HIBL) Sees Significant Drop in Short Interest

Direxion Daily S&P 500 High Beta Bull 3X ETF (NYSEARCA:HIBL) was the target of a significant decline in short interest in October. As of October 30th, there was short interest totaling 10,629 shares, a decline of 81.1% from the October 15th total of 56,116 shares. Approximately 1.2% of the company’s stock are short sold. Based on an average daily volume of 64,734 shares, the days-to-cover ratio is currently 0.2 days.

Direxion Daily S&P 500 High Beta Bull 3X ETF Price Performance

Direxion Daily S&P 500 High Beta Bull 3X ETF stock traded down $3.84 during trading hours on Thursday, reaching $73.56. The stock had a trading volume of 63,602 shares, compared to its average volume of 67,071. The company has a market cap of $67.26 million, a price-to-earnings ratio of 14.26 and a beta of 4.48. The business’s 50 day moving average price is $97.41 and its 200-day moving average price is $93.99. Direxion Daily S&P 500 High Beta Bull 3X ETF has a 52 week low of $46.94 and a 52 week high of $138.11.

Direxion Daily S&P 500 High Beta Bull 3X ETF Company Profile

The Direxion Daily S&P 500 High Beta Bull 3X Shares (HIBL) is an exchange-traded fund that is based on the S&P 500 High Beta index. The fund provides 3x daily leveraged exposure to a beta-weighted index of 100 highest-beta stocks in the S&P 500. HIBL was launched on Nov 7, 2019 and is managed by Direxion.