TZA Short Volume
Direxion Daily Small Cap Bear 3X ETF (TZA) operates in the Financial Services sector, specifically the Asset Management - Leveraged industry, with a market capitalization near $277.8M, listed on AMEX, carrying a beta of -3.73 to the broader market. The Direxion Daily Small Cap Bull and Bear 3X Shares seek the daily investment results, before fees and expenses, of 300%, or 300% of the inverse (or opposite), of the performance of the Russell 2000 Index. public since 2008-11-19.
Short volume measures the number of shares sold short on a given day as reported by FINRA. Tracking short volume relative to total volume helps identify unusual bearish sentiment or short-squeeze potential.
- Latest Date
- 2026-05-15
- Short Volume
- 132.0M
- Total Volume
- 231.1M
- Short %
- 57.10%
- 30-Day Avg Short %
- 44.68%
Showing 30 days of FINRA short volume data for Direxion Daily Small Cap Bear 3X ETF.
Learn how short volume is reported and how to read the data →
Frequently asked TZA short volume questions
- What is the daily TZA short volume?
- As of May 15, 2026, Direxion Daily Small Cap Bear 3X ETF (TZA) short volume is 132.0M shares against 231.1M total reported volume, or 57.10% short-side. Short volume measures shares sold short during the day; it is flow, not inventory.
- How is TZA short volume reported?
- FINRA publishes the Daily Short Sale Volume File for trades reported to FINRA TRFs and the FINRA/Nasdaq ADF on a T+1 basis. The headline figure is the count of shares that printed at the short-sale or short-exempt tick across all reporting venues for the symbol; each exchange separately publishes its own daily short-sale data file.
- What does TZA short volume tell options traders?
- Daily short-sale flow is one input that helps disambiguate dealer-hedging activity from directional bear flow when the chain shows fresh customer call inventory. It is not a clean MM-only proxy: the headline number mixes directional shorting, options-MM delta-hedging, ETF-creation arbitrage, and convertible-arb hedging. Cross-check against gamma-exposure and OI changes for a cleaner read.