Direxion Daily Real Estate Bull 3X Shares (NYSEARCA:DRN) Sees Large Growth in Short Interest

Direxion Daily Real Estate Bull 3X Shares (NYSEARCA:DRN) saw a large increase in short interest during the month of April. As of April 15th, there was short interest totaling 507,408 shares, an increase of 22.6% from the March 31st total of 413,891 shares. Based on an average daily volume of 1,829,954 shares, the days-to-cover ratio is currently 0.3 days. Approximately 11.4% of the company’s stock are sold short.

Direxion Daily Real Estate Bull 3X Shares Price Performance

NYSEARCA:DRN traded down $0.07 during midday trading on Friday, reaching $10.82. The stock had a trading volume of 901,905 shares, compared to its average volume of 973,460. Direxion Daily Real Estate Bull 3X Shares has a 1-year low of $8.05 and a 1-year high of $11.16. The firm’s fifty day simple moving average is $9.80 and its 200-day simple moving average is $9.31. The stock has a market capitalization of $47.61 million, a P/E ratio of 35.32 and a beta of 2.93.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC grew its stake in Direxion Daily Real Estate Bull 3X Shares by 41.2% in the 4th quarter. Virtu Financial LLC now owns 139,298 shares of the company’s stock valued at $1,187,000 after buying an additional 40,660 shares during the last quarter. Innova Wealth Partners acquired a new position in Direxion Daily Real Estate Bull 3X Shares in the 1st quarter valued at $114,000. Finally, Group One Trading LLC grew its stake in Direxion Daily Real Estate Bull 3X Shares by 101.3% in the 3rd quarter. Group One Trading LLC now owns 11,162 shares of the company’s stock valued at $109,000 after buying an additional 5,618 shares during the last quarter.

Direxion Daily Real Estate Bull 3X Shares Company Profile

The Direxion Daily Real Estate Bull 3X Shares (DRN) is an exchange-traded fund that is based on the S&P Real Estate Select Sector index. The fund provides 3x leveraged exposure to an index that captures large cap equities of the US real estate segment. DRN was launched on Jul 16, 2009 and is managed by Direxion.