Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN – Get Free Report) was the target of a large increase in short interest in June. As of June 15th, there was short interest totaling 6,188,874 shares, an increase of 178.6% from the May 31st total of 2,221,577 shares. Based on an average trading volume of 63,981,891 shares, the short-interest ratio is currently 0.1 days. Approximately 25.2% of the shares of the stock are short sold.
Direxion Daily S&P 500 Bear 1x Shares Stock Performance
NYSEARCA:SPDN traded down $0.06 during mid-day trading on Tuesday, hitting $8.68. The company’s stock had a trading volume of 13,883,444 shares, compared to its average volume of 57,180,266. Direxion Daily S&P 500 Bear 1x Shares has a fifty-two week low of $8.58 and a fifty-two week high of $10.35. The stock has a fifty day moving average of $8.84 and a 200-day moving average of $9.28.
Hedge Funds Weigh In On Direxion Daily S&P 500 Bear 1x Shares
Hedge funds have recently modified their holdings of the stock. Rockport Wealth LLC boosted its stake in Direxion Daily S&P 500 Bear 1x Shares by 3.8% in the 1st quarter. Rockport Wealth LLC now owns 2,904,522 shares of the company’s stock valued at $28,911,000 after buying an additional 105,788 shares in the last quarter. Leuthold Group LLC raised its stake in Direxion Daily S&P 500 Bear 1x Shares by 34.6% during the fourth quarter. Leuthold Group LLC now owns 2,340,534 shares of the company’s stock worth $22,071,000 after acquiring an additional 601,711 shares in the last quarter. One Plus One Wealth Management LLC lifted its holdings in shares of Direxion Daily S&P 500 Bear 1x Shares by 35.9% during the first quarter. One Plus One Wealth Management LLC now owns 1,403,480 shares of the company’s stock valued at $13,965,000 after acquiring an additional 370,941 shares during the period. IMC Chicago LLC lifted its holdings in shares of Direxion Daily S&P 500 Bear 1x Shares by 306.9% during the first quarter. IMC Chicago LLC now owns 974,315 shares of the company’s stock valued at $9,694,000 after acquiring an additional 734,884 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in shares of Direxion Daily S&P 500 Bear 1x Shares by 69.6% during the first quarter. NewEdge Advisors LLC now owns 841,700 shares of the company’s stock valued at $8,375,000 after acquiring an additional 345,450 shares during the period.
About Direxion Daily S&P 500 Bear 1x Shares
The Direxion Daily S&P 500 Bear 1X Shares (SPDN) is an exchange-traded fund that is based on the S&P 500 index. The fund provides daily inverse exposure to the S&P 500, a market-cap-weighted index of 500 US large-cap firms selected by the S&Ps index committee. SPDN was launched on Jun 8, 2016 and is managed by Direxion.
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