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

Direxion Daily Retail Bull 3X Shares (NYSEARCA:RETL) was the target of a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 41,110 shares, a drop of 43.7% from the June 30th total of 72,997 shares. Based on an average daily volume of 435,908 shares, the days-to-cover ratio is currently 0.1 days. Approximately 1.2% of the company’s shares are short sold.

Direxion Daily Retail Bull 3X Shares Stock Down 2.6%

Shares of NYSEARCA:RETL traded down $0.26 during midday trading on Thursday, reaching $9.82. The company’s stock had a trading volume of 566,990 shares, compared to its average volume of 597,934. The firm has a market cap of $30.64 million, a price-to-earnings ratio of 13.74 and a beta of 3.47. The business has a 50 day moving average price of $8.75 and a 200 day moving average price of $8.77. Direxion Daily Retail Bull 3X Shares has a 1 year low of $6.49 and a 1 year high of $11.29.

Institutional Trading of Direxion Daily Retail Bull 3X Shares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RETL. Group One Trading LLC acquired a new position in shares of Direxion Daily Retail Bull 3X Shares during the 2nd quarter valued at about $26,000. Quadrature Capital Ltd purchased a new stake in Direxion Daily Retail Bull 3X Shares in the fourth quarter valued at approximately $158,000. Jane Street Group LLC grew its holdings in Direxion Daily Retail Bull 3X Shares by 52.2% in the first quarter. Jane Street Group LLC now owns 36,083 shares of the company’s stock valued at $220,000 after purchasing an additional 12,383 shares during the period. 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.

About Direxion Daily Retail Bull 3X Shares

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.