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

Direxion Daily S&P 500 High Beta Bull 3X ETF (NYSEARCA:HIBL) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 89,916 shares, a growth of 241.5% from the August 15th total of 26,327 shares. Currently, 11.1% of the shares of the company are short sold. Based on an average trading volume of 41,759 shares, the short-interest ratio is presently 2.2 days.

Direxion Daily S&P 500 High Beta Bull 3X ETF Stock Up 6.5%

Shares of Direxion Daily S&P 500 High Beta Bull 3X ETF stock traded up $6.49 on Friday, hitting $105.82. The stock had a trading volume of 55,490 shares, compared to its average volume of 68,648. Direxion Daily S&P 500 High Beta Bull 3X ETF has a twelve month low of $46.94 and a twelve month high of $138.11. The business’s 50 day moving average is $104.82 and its two-hundred day moving average is $96.29. The stock has a market cap of $85.71 million, a price-to-earnings ratio of 14.26 and a beta of 4.36.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HIBL. Group One Trading LLC bought a new stake in shares of Direxion Daily S&P 500 High Beta Bull 3X ETF in the fourth quarter valued at about $39,000. Virtu Financial LLC increased its position in Direxion Daily S&P 500 High Beta Bull 3X ETF by 347.5% during the fourth quarter. Virtu Financial LLC now owns 21,545 shares of the company’s stock worth $1,415,000 after acquiring an additional 16,731 shares during the period. Tower Research Capital LLC TRC increased its position in Direxion Daily S&P 500 High Beta Bull 3X ETF by 131.4% during the second quarter. Tower Research Capital LLC TRC now owns 33,572 shares of the company’s stock worth $1,443,000 after acquiring an additional 19,063 shares during the period. Jane Street Group LLC acquired a new stake in Direxion Daily S&P 500 High Beta Bull 3X ETF in the 2nd quarter worth about $1,659,000. Finally, Susquehanna International Group LLP raised its stake in Direxion Daily S&P 500 High Beta Bull 3X ETF by 4.9% in the 3rd quarter. Susquehanna International Group LLP now owns 69,556 shares of the company’s stock worth $4,104,000 after purchasing an additional 3,247 shares in the last quarter.

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

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.