Direxion Daily S&P 500 Bear 1X ETF (NYSEARCA:SPDN – Get Free Report) saw a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 3,256,569 shares, an increase of 197.8% from the September 15th total of 1,093,699 shares. Currently, 9.2% of the shares of the company are sold short. Based on an average daily trading volume, of 36,825,877 shares, the short-interest ratio is presently 0.1 days.
Institutional Investors Weigh In On Direxion Daily S&P 500 Bear 1X ETF
A number of institutional investors and hedge funds have recently bought and sold shares of the business. A. D. Beadell Investment Counsel Inc. boosted its position in Direxion Daily S&P 500 Bear 1X ETF by 60.0% during the first quarter. A. D. Beadell Investment Counsel Inc. now owns 20,000 shares of the company’s stock valued at $199,000 after purchasing an additional 7,500 shares during the last quarter. Lifeworks Advisors LLC lifted its stake in Direxion Daily S&P 500 Bear 1X ETF by 55.2% in the first quarter. Lifeworks Advisors LLC now owns 24,469 shares of the company’s stock valued at $243,000 after acquiring an additional 8,705 shares during the last quarter. Strait & Sound Wealth Management LLC acquired a new stake in shares of Direxion Daily S&P 500 Bear 1X ETF in the 1st quarter valued at $100,000. Resonant Capital Advisors LLC lifted its stake in shares of Direxion Daily S&P 500 Bear 1X ETF by 28.2% in the 1st quarter. Resonant Capital Advisors LLC now owns 51,477 shares of the company’s stock valued at $512,000 after purchasing an additional 11,332 shares during the last quarter. Finally, Waverly Advisors LLC acquired a new position in Direxion Daily S&P 500 Bear 1X ETF during the first quarter worth $136,000.
Direxion Daily S&P 500 Bear 1X ETF Stock Performance
Shares of SPDN remained flat at $8.34 during trading hours on Tuesday. The stock had a trading volume of 24,305,323 shares, compared to its average volume of 49,256,281. The stock has a fifty day simple moving average of $8.48 and a two-hundred day simple moving average of $8.80. Direxion Daily S&P 500 Bear 1X ETF has a 52 week low of $8.28 and a 52 week high of $10.28.
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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