Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) Trading Up 2.3% – Should You Buy?

Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) shares rose 2.3% during mid-day trading on Monday . The stock traded as high as $26.42 and last traded at $26.29. Approximately 11,378,300 shares changed hands during trading, a decline of 18% from the average daily volume of 13,920,777 shares. The stock had previously closed at $25.70.

Direxion Daily S&P 500 Bear 3X Shares Trading Up 2.3%

The firm’s 50-day moving average price is $27.11 and its 200-day moving average price is $32.51.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Daytona Street Capital LLC bought a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the 4th quarter valued at approximately $1,376,000. IMC Chicago LLC bought a new position in shares of Direxion Daily S&P 500 Bear 3X Shares during the 4th quarter valued at approximately $8,967,000. PayPay Securities Corp raised its holdings in Direxion Daily S&P 500 Bear 3X Shares by 145.2% during the 4th quarter. PayPay Securities Corp now owns 3,008 shares of the company’s stock valued at $107,000 after buying an additional 1,781 shares during the period. Hamilton Wealth LLC purchased a new stake in Direxion Daily S&P 500 Bear 3X Shares during the 1st quarter valued at $19,108,000. Finally, Guardian Partners Inc. purchased a new stake in Direxion Daily S&P 500 Bear 3X Shares during the 1st quarter valued at $203,000.

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.