Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) Short Interest Down 23.9% in March

Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) saw a significant drop in short interest in March. As of March 31st, there was short interest totaling 1,585,805 shares, a drop of 23.9% from the March 15th total of 2,082,842 shares. Based on an average daily trading volume, of 121,126,919 shares, the short-interest ratio is presently 0.0 days. Approximately 4.8% of the shares of the stock are short sold.

Direxion Daily S&P 500 Bear 1x Shares Price Performance

NYSEARCA:SPDN opened at $9.33 on Wednesday. Direxion Daily S&P 500 Bear 1x Shares has a 52-week low of $9.26 and a 52-week high of $12.57. The stock has a fifty day moving average of $9.64 and a 200 day moving average of $9.54.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Moors & Cabot Inc. raised its stake in Direxion Daily S&P 500 Bear 1x Shares by 8.9% in the fourth quarter. Moors & Cabot Inc. now owns 18,655 shares of the company’s stock valued at $176,000 after purchasing an additional 1,523 shares in the last quarter. Advisory Services Network LLC grew its stake in Direxion Daily S&P 500 Bear 1x Shares by 5.2% in the 3rd quarter. Advisory Services Network LLC now owns 39,495 shares of the company’s stock worth $380,000 after buying an additional 1,947 shares in the last quarter. Maltin Wealth Management Inc. increased its holdings in shares of Direxion Daily S&P 500 Bear 1x Shares by 5.4% in the 3rd quarter. Maltin Wealth Management Inc. now owns 60,707 shares of the company’s stock worth $583,000 after buying an additional 3,136 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Direxion Daily S&P 500 Bear 1x Shares in the 4th quarter worth $49,000. Finally, Leuthold Group LLC raised its position in shares of Direxion Daily S&P 500 Bear 1x Shares by 0.4% during the 3rd quarter. Leuthold Group LLC now owns 1,738,823 shares of the company’s stock valued at $16,710,000 after buying an additional 7,254 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.