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

Direxion Daily S&P 500 High Beta Bull 3X Shares (NYSEARCA:HIBL) saw a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 30,412 shares, an increase of 114.4% from the July 15th total of 14,187 shares. Based on an average daily volume of 58,396 shares, the short-interest ratio is presently 0.5 days. Approximately 3.8% of the shares of the stock are sold short.

Institutional Inflows and Outflows

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

Direxion Daily S&P 500 High Beta Bull 3X Shares Stock Performance

Shares of Direxion Daily S&P 500 High Beta Bull 3X Shares stock traded up $0.34 during trading on Friday, reaching $115.72. 48,299 shares of the company’s stock were exchanged, compared to its average volume of 71,708. Direxion Daily S&P 500 High Beta Bull 3X Shares has a 1-year low of $45.51 and a 1-year high of $138.11. The company has a market cap of $93.73 million, a P/E ratio of 14.26 and a beta of 4.35. The firm’s 50-day moving average price is $111.11 and its 200 day moving average price is $91.88.

Direxion Daily S&P 500 High Beta Bull 3X Shares 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.