Direxion Daily S&P 500 Bear 1X ETF (NYSEARCA:SPDN – Get Free Report) was the target of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totaling 720,769 shares, a decrease of 77.9% from the September 30th total of 3,256,569 shares. Based on an average trading volume of 34,289,048 shares, the days-to-cover ratio is presently 0.0 days. Currently, 2.1% of the company’s stock are sold short.
Institutional Investors Weigh In On Direxion Daily S&P 500 Bear 1X ETF
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Rockport Wealth LLC raised its stake in shares of Direxion Daily S&P 500 Bear 1X ETF by 3.8% during the 1st quarter. Rockport Wealth LLC now owns 2,904,522 shares of the company’s stock worth $28,911,000 after purchasing an additional 105,788 shares in the last quarter. IMC Chicago LLC grew its stake in shares of Direxion Daily S&P 500 Bear 1X ETF by 306.9% in the 1st quarter. IMC Chicago LLC now owns 974,315 shares of the company’s stock valued at $9,694,000 after buying an additional 734,884 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Direxion Daily S&P 500 Bear 1X ETF by 69.6% in the first quarter. NewEdge Advisors LLC now owns 841,700 shares of the company’s stock worth $8,375,000 after buying an additional 345,450 shares during the last quarter. First Pacific Financial acquired a new position in Direxion Daily S&P 500 Bear 1X ETF in the third quarter worth approximately $2,315,000. Finally, Cushing Capital Partners LLC increased its holdings in Direxion Daily S&P 500 Bear 1X ETF by 32.4% in the third quarter. Cushing Capital Partners LLC now owns 236,523 shares of the company’s stock worth $2,006,000 after buying an additional 57,902 shares during the last quarter.
Direxion Daily S&P 500 Bear 1X ETF Trading Down 0.5%
Shares of NYSEARCA:SPDN opened at $8.50 on Tuesday. Direxion Daily S&P 500 Bear 1X ETF has a 1 year low of $8.28 and a 1 year high of $10.28. The business has a fifty day simple moving average of $8.48 and a 200 day simple moving average of $8.96.
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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