Traders Buy Large Volume of Direxion Daily S&P 500 Bear 3X ETF Put Options (NYSEARCA:SPXS)

Direxion Daily S&P 500 Bear 3X ETF (NYSEARCA:SPXS) was the target of some unusual options trading activity on Friday. Traders bought 50,756 put options on the stock. This is an increase of 203% compared to the average daily volume of 16,777 put options.

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

A number of hedge funds have recently added to or reduced their stakes in the stock. PayPay Securities Corp raised its stake in shares of Direxion Daily S&P 500 Bear 3X ETF by 242.3% during the second quarter. PayPay Securities Corp now owns 4,836 shares of the company’s stock valued at $128,000 after purchasing an additional 3,423 shares in the last quarter. Hamilton Wealth LLC bought a new position in Direxion Daily S&P 500 Bear 3X ETF in the 1st quarter valued at about $6,369,000. Guardian Partners Inc. acquired a new position in Direxion Daily S&P 500 Bear 3X ETF during the 1st quarter valued at about $203,000. Royal Bank of Canada bought a new stake in shares of Direxion Daily S&P 500 Bear 3X ETF during the 1st quarter worth about $81,000. Finally, Group One Trading LLC bought a new stake in shares of Direxion Daily S&P 500 Bear 3X ETF during the 1st quarter worth about $2,172,000.

Direxion Daily S&P 500 Bear 3X ETF Stock Down 1.9%

Shares of NYSEARCA:SPXS traded down $0.45 during trading on Friday, hitting $23.32. 8,004,381 shares of the company traded hands, compared to its average volume of 13,247,566. The business’s fifty day moving average is $24.54 and its 200-day moving average is $27.94. Direxion Daily S&P 500 Bear 3X ETF has a one year low of $23.04 and a one year high of $44.83.

Direxion Daily S&P 500 Bear 3X ETF 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.