Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS – Get Free Report) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totaling 1,559,856 shares, a decline of 39.6% from the March 15th total of 2,584,161 shares. Approximately 14.2% of the company’s shares are short sold. Based on an average daily volume of 20,912,762 shares, the days-to-cover ratio is presently 0.1 days.
Direxion Daily S&P 500 Bear 3X Shares Trading Down 3.6%
NYSEARCA SPXS traded down $1.23 during trading hours on Tuesday, reaching $33.22. 11,489,912 shares of the company’s stock traded hands, compared to its average volume of 14,704,001. Direxion Daily S&P 500 Bear 3X Shares has a 52-week low of $33.18 and a 52-week high of $85.10. The firm has a 50-day simple moving average of $37.12 and a 200 day simple moving average of $36.39.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the stock. Daytona Street Capital LLC bought a new position in Direxion Daily S&P 500 Bear 3X Shares in the 4th quarter worth approximately $1,376,000. Kiker Wealth Management LLC bought a new position in Direxion Daily S&P 500 Bear 3X Shares during the third quarter valued at $228,000. Global Retirement Partners LLC lifted its position in Direxion Daily S&P 500 Bear 3X Shares by 12,458.3% during the third quarter. Global Retirement Partners LLC now owns 6,028 shares of the company’s stock valued at $229,000 after purchasing an additional 5,980 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Direxion Daily S&P 500 Bear 3X Shares by 174.4% during the second quarter. Tower Research Capital LLC TRC now owns 107,891 shares of the company’s stock valued at $506,000 after purchasing an additional 68,566 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in Direxion Daily S&P 500 Bear 3X Shares during the 4th quarter valued at about $421,000.
Direxion Daily S&P 500 Bear 3X Shares Company Profile
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.
Further Reading
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