Direxion Daily S&P 500 Bear 1X ETF (NYSEARCA:SPDN – Get Free Report) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totaling 966,785 shares, an increase of 509.3% from the August 15th total of 158,662 shares. Based on an average daily volume of 28,702,348 shares, the short-interest ratio is presently 0.0 days. Currently, 3.7% of the shares of the stock are sold short.
Direxion Daily S&P 500 Bear 1X ETF Trading Down 0.7%
SPDN stock traded down $0.06 during trading hours on Friday, hitting $8.58. 31,509,966 shares of the stock traded hands, compared to its average volume of 51,115,660. Direxion Daily S&P 500 Bear 1X ETF has a one year low of $8.36 and a one year high of $10.28. The stock has a 50-day simple moving average of $8.59 and a 200 day simple moving average of $8.98.
Institutional Investors Weigh In On Direxion Daily S&P 500 Bear 1X ETF
A number of institutional investors and hedge funds have recently modified their holdings of SPDN. Steward Partners Investment Advisory LLC acquired a new position in shares of Direxion Daily S&P 500 Bear 1X ETF in the 4th quarter valued at $49,000. Strait & Sound Wealth Management LLC acquired a new position in Direxion Daily S&P 500 Bear 1X ETF in the 1st quarter valued at approximately $100,000. Waverly Advisors LLC purchased a new stake in shares of Direxion Daily S&P 500 Bear 1X ETF during the first quarter worth $136,000. IHT Wealth Management LLC purchased a new stake in shares of Direxion Daily S&P 500 Bear 1X ETF during the 2nd quarter worth about $159,000. Finally, Moors & Cabot Inc. lifted its stake in Direxion Daily S&P 500 Bear 1X ETF by 27.0% in the third quarter. Moors & Cabot Inc. now owns 17,132 shares of the company’s stock valued at $165,000 after acquiring an additional 3,647 shares during the last quarter.
About Direxion Daily S&P 500 Bear 1X ETF
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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