Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN – Get Free Report) was the recipient of a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 2,258,856 shares, a drop of 63.5% from the June 15th total of 6,188,874 shares. Approximately 9.3% of the company’s stock are short sold. Based on an average daily trading volume, of 44,664,010 shares, the days-to-cover ratio is currently 0.1 days.
Direxion Daily S&P 500 Bear 1x Shares Stock Performance
SPDN opened at $8.59 on Monday. 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 company’s 50-day moving average is $8.76 and its 200 day moving average is $9.23.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. Cushing Capital Partners LLC purchased a new stake in shares of Direxion Daily S&P 500 Bear 1x Shares in the fourth quarter valued at about $1,151,000. One Plus One Wealth Management LLC boosted its holdings in Direxion Daily S&P 500 Bear 1x Shares by 24.2% during the fourth quarter. One Plus One Wealth Management LLC now owns 1,032,539 shares of the company’s stock worth $9,737,000 after purchasing an additional 201,080 shares during the last quarter. Harmony Asset Management LLC purchased a new position in Direxion Daily S&P 500 Bear 1x Shares during the fourth quarter worth about $1,232,000. IMC Chicago LLC bought a new stake in Direxion Daily S&P 500 Bear 1x Shares in the 4th quarter worth about $2,258,000. Finally, SB Capital Management Inc bought a new stake in Direxion Daily S&P 500 Bear 1x Shares in the 4th quarter worth about $1,031,000.
Direxion Daily S&P 500 Bear 1x Shares Company Profile
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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