Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN – Get Free Report) was the target of a significant decrease in short interest during the month of August. As of August 14th, there was short interest totaling 158,662 shares, a decrease of 87.2% from the July 30th total of 1,243,166 shares. Based on an average daily volume of 33,264,453 shares, the short-interest ratio is currently 0.0 days. Approximately 0.6% of the shares of the company are short sold.
Direxion Daily S&P 500 Bear 1x Shares Stock Performance
NYSEARCA:SPDN traded down $0.05 during trading hours on Thursday, reaching $8.48. The stock had a trading volume of 33,939,078 shares, compared to its average volume of 52,253,434. The stock has a 50 day simple moving average of $8.64 and a 200 day simple moving average of $9.05. Direxion Daily S&P 500 Bear 1x Shares has a 12-month low of $8.36 and a 12-month high of $10.28.
Institutional Investors Weigh In On Direxion Daily S&P 500 Bear 1x Shares
Several large investors have recently added to or reduced their stakes in SPDN. IMC Chicago LLC purchased a new position in Direxion Daily S&P 500 Bear 1x Shares in the 4th quarter valued at approximately $2,258,000. Harmony Asset Management LLC purchased a new stake in shares of Direxion Daily S&P 500 Bear 1x Shares during the fourth quarter worth $1,232,000. SB Capital Management Inc bought a new position in shares of Direxion Daily S&P 500 Bear 1x Shares in the fourth quarter worth $1,031,000. January Capital Advisors LLC bought a new position in shares of Direxion Daily S&P 500 Bear 1x Shares in the first quarter worth $1,977,000. Finally, NewEdge Advisors LLC grew its position in shares of Direxion Daily S&P 500 Bear 1x Shares by 69.6% in the first quarter. NewEdge Advisors LLC now owns 841,700 shares of the company’s stock valued at $8,375,000 after purchasing an additional 345,450 shares in the last quarter.
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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