Direxion Daily Retail Bull 3X Shares (NYSEARCA:RETL) Sees Large Decline in Short Interest

Direxion Daily Retail Bull 3X Shares (NYSEARCA:RETL) was the recipient of a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 128,778 shares, a drop of 33.5% from the May 14th total of 193,598 shares. Based on an average daily volume of 943,949 shares, the days-to-cover ratio is currently 0.1 days. Approximately 3.6% of the company’s stock are short sold.

Institutional Trading of Direxion Daily Retail Bull 3X Shares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Group One Trading LLC acquired a new position in Direxion Daily Retail Bull 3X Shares during the second quarter worth approximately $26,000. Quadrature Capital Ltd acquired a new position in Direxion Daily Retail Bull 3X Shares during the fourth quarter worth approximately $158,000. Jane Street Group LLC increased its position in Direxion Daily Retail Bull 3X Shares by 52.2% during the first quarter. Jane Street Group LLC now owns 36,083 shares of the company’s stock worth $220,000 after buying an additional 12,383 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in Direxion Daily Retail Bull 3X Shares during the fourth quarter worth approximately $461,000. Finally, Virtu Financial LLC acquired a new position in Direxion Daily Retail Bull 3X Shares during the fourth quarter worth approximately $470,000.

Direxion Daily Retail Bull 3X Shares Price Performance

RETL opened at $9.05 on Tuesday. The business’s 50-day moving average price is $8.14 and its two-hundred day moving average price is $8.90. Direxion Daily Retail Bull 3X Shares has a 1 year low of $6.49 and a 1 year high of $11.29. The company has a market capitalization of $32.76 million, a price-to-earnings ratio of 13.74 and a beta of 3.51.

Direxion Daily Retail Bull 3X Shares Company Profile

Direxion Daily Retail Bull 3x Shares, formerly Direxion Daily Retail Bull 2x Shares, seeks daily investment results, before fees and expenses, of 300% of the performance of the Russell 1000 Retail Index. The Retail Index is an index comprised of companies that sell to consumers those discretionary products supplied by manufacturers. These companies include specialty retailers, as well as diversified retailers, such as department stores, discount stores, and superstores. Its investment sector includes hypermarkets and super centers, Internet retail, home improvement retail, apparel retail, general merchandise stores, department stores, automotive retail, specialty stores, home furnishing retail, computer and electronics retail, and catalog retail.