Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Sees Significant Growth in Short Interest

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) was the target of a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 608,045 shares, an increase of 270.6% from the January 29th total of 164,070 shares. Approximately 13.6% of the shares of the company are short sold. Based on an average daily volume of 3,215,253 shares, the short-interest ratio is currently 0.2 days. Based on an average daily volume of 3,215,253 shares, the short-interest ratio is currently 0.2 days. Approximately 13.6% of the shares of the company are short sold.

Institutional Investors Weigh In On Direxion Daily S&P 500 High Beta Bear 3X Shares

A number of institutional investors have recently added to or reduced their stakes in HIBS. Group One Trading LLC bought a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the 3rd quarter worth approximately $28,000. StoneX Group Inc. acquired a new position in Direxion Daily S&P 500 High Beta Bear 3X Shares during the fourth quarter worth $55,000. HRT Financial LP acquired a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the 4th quarter valued at $59,000. Tower Research Capital LLC TRC acquired a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the 2nd quarter valued at $219,000. Finally, Virtu Financial LLC grew its holdings in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares by 322.9% in the 4th quarter. Virtu Financial LLC now owns 168,005 shares of the company’s stock worth $847,000 after purchasing an additional 128,276 shares during the last quarter.

Direxion Daily S&P 500 High Beta Bear 3X Shares Stock Up 4.5%

HIBS stock traded up $0.18 during midday trading on Thursday, hitting $4.16. The stock had a trading volume of 623,198 shares, compared to its average volume of 3,423,605. Direxion Daily S&P 500 High Beta Bear 3X Shares has a 52 week low of $3.87 and a 52 week high of $41.69. The stock has a 50-day simple moving average of $4.44 and a 200 day simple moving average of $5.71.

Direxion Daily S&P 500 High Beta Bear 3X Shares shares are going to reverse split on Thursday, March 5th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, March 4th.

About Direxion Daily S&P 500 High Beta Bear 3X Shares

The Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) is an exchange-traded fund that is based on the S&P 500 High Beta index. The fund provides 3x daily inverse exposure to a beta-weighted index of 100 highest-beta stocks in the S&P 500. HIBS was launched on Nov 7, 2019 and is managed by Direxion.