Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS – Get Free Report) saw a large drop in short interest in July. As of July 31st, there was short interest totaling 27,979 shares, a drop of 62.9% from the July 15th total of 75,508 shares. Based on an average daily volume of 310,328 shares, the days-to-cover ratio is presently 0.1 days. Currently, 3.0% of the shares of the company are sold short.
Direxion Daily S&P 500 High Beta Bear 3X Shares Stock Performance
Shares of NYSEARCA HIBS traded down $0.12 during trading hours on Friday, reaching $17.67. The stock had a trading volume of 112,287 shares, compared to its average volume of 264,974. The business’s fifty day moving average is $20.33 and its two-hundred day moving average is $31.45. Direxion Daily S&P 500 High Beta Bear 3X Shares has a twelve month low of $17.12 and a twelve month high of $86.25.
Institutional Investors Weigh In On Direxion Daily S&P 500 High Beta Bear 3X Shares
Several institutional investors and hedge funds have recently bought and sold shares of the business. Group One Trading LLC bought a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the 3rd quarter worth about $28,000. StoneX Group Inc. acquired a new position in Direxion Daily S&P 500 High Beta Bear 3X Shares in the fourth quarter worth about $55,000. HRT Financial LP acquired a new position in Direxion Daily S&P 500 High Beta Bear 3X Shares in the fourth quarter worth about $59,000. Tower Research Capital LLC TRC bought a new position in Direxion Daily S&P 500 High Beta Bear 3X Shares during the second quarter worth about $219,000. Finally, Virtu Financial LLC lifted its stake in Direxion Daily S&P 500 High Beta Bear 3X Shares by 322.9% during the fourth quarter. Virtu Financial LLC now owns 168,005 shares of the company’s stock worth $847,000 after purchasing an additional 128,276 shares during the period.
Direxion Daily S&P 500 High Beta Bear 3X Shares Company Profile
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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