Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) Sees Significant Increase in Short Interest
by Kim Johansen · The Markets DailyDirexion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS – Get Free Report) was the recipient of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 2,584,161 shares, an increase of 49.2% from the February 26th total of 1,731,976 shares. Based on an average daily volume of 26,730,079 shares, the short-interest ratio is currently 0.1 days. Approximately 28.2% of the shares of the company are short sold.
Institutional Trading of Direxion Daily S&P 500 Bear 3X Shares
Several hedge funds have recently added to or reduced their stakes in the business. Jump Financial LLC acquired a new position in Direxion Daily S&P 500 Bear 3X Shares during the 2nd quarter worth $1,537,000. IMC Chicago LLC acquired a new position in shares of Direxion Daily S&P 500 Bear 3X Shares during the fourth quarter valued at $8,967,000. Tower Research Capital LLC TRC raised its stake in shares of Direxion Daily S&P 500 Bear 3X Shares by 174.4% during the second quarter. Tower Research Capital LLC TRC now owns 107,891 shares of the company’s stock valued at $506,000 after purchasing an additional 68,566 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the third quarter valued at about $1,790,000. Finally, Daytona Street Capital LLC acquired a new stake in Direxion Daily S&P 500 Bear 3X Shares in the fourth quarter worth about $1,376,000.
Direxion Daily S&P 500 Bear 3X Shares Stock Performance
Shares of SPXS traded up $2.18 during mid-day trading on Friday, reaching $43.81. 24,710,644 shares of the company’s stock traded hands, compared to its average volume of 14,286,705. The business’s 50-day moving average price is $36.25 and its 200-day moving average price is $36.49. Direxion Daily S&P 500 Bear 3X Shares has a 12 month low of $33.29 and a 12 month high of $106.70.
Direxion Daily S&P 500 Bear 3X Shares Company Profile
Direxion Daily S&P 500 Bear 3X Shares ETF, formerly Direxion Daily S&P 500 Bear 3X Shares, seeks daily investment results of 300% of the inverse (or opposite) of the price performance of the S&P 500 Index. The S&P 500 Index is a capitalization-weighted index composed of 500 domestic common stocks. Standard & Poor’s selects the 500 stocks comprising the Index on the basis of market values and industry diversification. Most of the stocks in the Index are issued by the 500 largest companies, in terms of the aggregate market value of their outstanding stock, and generally are listed on the New York Stock Exchange.