Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (NYSEARCA:EVAV) Sees Significant Increase in Short Interest

Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (NYSEARCA:EVAV) saw a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 26,600 shares, a growth of 98.5% from the May 15th total of 13,400 shares. Based on an average daily volume of 8,000 shares, the days-to-cover ratio is currently 3.3 days. Approximately 15.2% of the shares of the company are sold short.

Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares Stock Down 6.1%

Shares of NYSEARCA:EVAV opened at $19.41 on Monday. Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares has a fifty-two week low of $11.71 and a fifty-two week high of $39.44. The firm’s 50-day simple moving average is $18.69 and its 200-day simple moving average is $20.84.

Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares Company Profile

The Direxion Daily Electric and Autonomous Vehicles Bull 2X Shares (EVAV) is an exchange-traded fund that mostly invests in stocks based on a particular theme. The fund tracks 2x the daily price movements of a liquidity-weighted index of US-listed electric and autonomous vehicles companies. EVAV was launched on Aug 11, 2022 and is managed by Direxion.