Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) Short Interest Up 49.2% in March

Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) was the target 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. Approximately 28.2% of the shares of the stock are short sold. Based on an average daily volume of 26,730,079 shares, the short-interest ratio is presently 0.1 days.

Direxion Daily S&P 500 Bear 3X Shares Price Performance

NYSEARCA:SPXS opened at $43.81 on Monday. Direxion Daily S&P 500 Bear 3X Shares has a one year low of $33.29 and a one year high of $106.70. The stock has a 50 day moving average price of $36.25 and a 200 day moving average price of $36.49.

Institutional Trading of Direxion Daily S&P 500 Bear 3X Shares

Several large investors have recently added to or reduced their stakes in the stock. MAI Capital Management purchased a new position in shares of Direxion Daily S&P 500 Bear 3X Shares during the 2nd quarter worth $40,000. PayPay Securities Corp grew its holdings in shares of Direxion Daily S&P 500 Bear 3X Shares by 145.2% in the fourth quarter. PayPay Securities Corp now owns 3,008 shares of the company’s stock valued at $107,000 after purchasing an additional 1,781 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the second quarter valued at about $119,000. BTG Pactual Asset Management US LLC acquired a new stake in Direxion Daily S&P 500 Bear 3X Shares during the third quarter worth about $220,000. Finally, Kiker Wealth Management LLC acquired a new stake in Direxion Daily S&P 500 Bear 3X Shares during the third quarter worth about $228,000.

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.