Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS – Get Free Report) was the target of a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 1,881,444 shares, a decline of 35.6% from the June 30th total of 2,921,001 shares. Approximately 15.6% of the shares of the company are sold short. Based on an average daily volume of 9,433,349 shares, the short-interest ratio is presently 0.2 days.
Institutional Trading of Direxion Daily S&P 500 Bear 3X Shares
Several hedge funds and other institutional investors have recently made changes to their positions in SPXS. IMC Chicago LLC raised its holdings in Direxion Daily S&P 500 Bear 3X Shares by 323.0% during the first quarter. IMC Chicago LLC now owns 1,069,475 shares of the company’s stock worth $43,303,000 after purchasing an additional 816,668 shares in the last quarter. Hamilton Wealth LLC purchased a new stake in Direxion Daily S&P 500 Bear 3X Shares in the 1st quarter valued at approximately $19,108,000. Jump Financial LLC purchased a new stake in Direxion Daily S&P 500 Bear 3X Shares in the 2nd quarter valued at approximately $1,537,000. Tower Research Capital LLC TRC increased its position in Direxion Daily S&P 500 Bear 3X Shares by 174.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 107,891 shares of the company’s stock worth $506,000 after purchasing an additional 68,566 shares during the period. Finally, Group One Trading LLC acquired a new position in Direxion Daily S&P 500 Bear 3X Shares during the 1st quarter worth approximately $2,172,000.
Direxion Daily S&P 500 Bear 3X Shares Stock Performance
Direxion Daily S&P 500 Bear 3X Shares stock opened at $26.57 on Friday. The business has a 50 day simple moving average of $26.87 and a 200-day simple moving average of $31.78. Direxion Daily S&P 500 Bear 3X Shares has a 12 month low of $25.53 and a 12 month high of $47.20.
About Direxion Daily S&P 500 Bear 3X Shares
Direxion Daily S&P 500 Bear 3X Shares ETF, formerly Direxion Daily S&P 500 Bear 3X Shares, seeks daily investment results of 300% of the inverse (or opposite) of the price performance of the S&P 500 Index. The S&P 500 Index is a capitalization-weighted index composed of 500 domestic common stocks. Standard & Poor’s selects the 500 stocks comprising the Index on the basis of market values and industry diversification. Most of the stocks in the Index are issued by the 500 largest companies, in terms of the aggregate market value of their outstanding stock, and generally are listed on the New York Stock Exchange.
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