Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS – Get Free Report) was the target of a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 59,162 shares, a growth of 399.2% from the April 30th total of 11,852 shares. Approximately 9.2% of the shares of the company are short sold. Based on an average trading volume of 115,759 shares, the days-to-cover ratio is presently 0.5 days.
Institutional Trading of Direxion Daily S&P 500 High Beta Bear 3X Shares
Several hedge funds have recently made changes to their positions in HIBS. Tower Research Capital LLC TRC bought a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the second quarter valued at $219,000. Choreo LLC bought a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the third quarter valued at $2,366,000. Group One Trading LLC bought a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the third quarter valued at $28,000. Prosperity Wealth Management Inc. raised its stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares by 213.9% in the third quarter. Prosperity Wealth Management Inc. now owns 249,733 shares of the company’s stock valued at $1,621,000 after buying an additional 170,165 shares during the period. Finally, StoneX Group Inc. bought a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the fourth quarter valued at $55,000.
Direxion Daily S&P 500 High Beta Bear 3X Shares Stock Performance
Shares of HIBS traded down $0.97 during mid-day trading on Friday, hitting $21.02. The stock had a trading volume of 107,631 shares, compared to its average volume of 285,673. The business has a fifty day moving average price of $34.43 and a 200-day moving average price of $43.39. Direxion Daily S&P 500 High Beta Bear 3X Shares has a 52 week low of $20.96 and a 52 week high of $135.50.
About Direxion Daily S&P 500 High Beta Bear 3X Shares
The Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) is an exchange-traded fund that is based on the S&P 500 High Beta index. The fund provides 3x daily inverse exposure to a beta-weighted index of 100 highest-beta stocks in the S&P 500. HIBS was launched on Nov 7, 2019 and is managed by Direxion.
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