Short Interest in Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) Decreases By 63.5%

by · The Markets Daily

Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN – Get Free Report) saw a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 2,258,856 shares, a decline of 63.5% from the June 15th total of 6,188,874 shares. Based on an average daily volume of 44,664,010 shares, the days-to-cover ratio is currently 0.1 days. Approximately 9.3% of the company’s shares are short sold.

Institutional Investors Weigh In On Direxion Daily S&P 500 Bear 1x Shares

Institutional investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC acquired a new position in shares of Direxion Daily S&P 500 Bear 1x Shares in the 4th quarter worth approximately $49,000. Strait & Sound Wealth Management LLC purchased a new stake in Direxion Daily S&P 500 Bear 1x Shares in the first quarter valued at approximately $100,000. A. D. Beadell Investment Counsel Inc. purchased a new stake in Direxion Daily S&P 500 Bear 1x Shares in the fourth quarter valued at approximately $117,000. Waverly Advisors LLC acquired a new position in Direxion Daily S&P 500 Bear 1x Shares during the first quarter worth $136,000. Finally, IHT Wealth Management LLC acquired a new position in Direxion Daily S&P 500 Bear 1x Shares during the second quarter worth $159,000.

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

Shares of NYSEARCA SPDN traded down $0.04 during mid-day trading on Tuesday, reaching $8.63. 36,023,704 shares of the company’s stock were exchanged, compared to its average volume of 55,635,484. The company’s 50-day moving average is $8.74 and its 200-day moving average is $9.22. Direxion Daily S&P 500 Bear 1x Shares has a 52-week low of $8.58 and a 52-week high of $10.35.

Direxion Daily S&P 500 Bear 1x Shares Company Profile

(Get Free Report)

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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