Direxion Daily S&P 500 High Beta Bear 3X ETF (NYSEARCA:HIBS) Shares Shorted: Short Interest Down 54.5% in September

Direxion Daily S&P 500 High Beta Bear 3X ETF (NYSEARCA:HIBS) was the target of a large decrease in short interest during the month of September. As of September 30th, there was short interest totaling 31,810 shares, a decrease of 54.5% from the September 15th total of 69,931 shares. Approximately 2.6% of the company’s stock are short sold. Based on an average daily trading volume, of 229,222 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of Direxion Daily S&P 500 High Beta Bear 3X ETF

An institutional investor recently raised its stake in Direxion Daily S&P 500 High Beta Bear 3X ETF stock. Virtu Financial LLC increased its position in shares of Direxion Daily S&P 500 High Beta Bear 3X ETF (NYSEARCA:HIBS) by 322.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 168,005 shares of the company’s stock after purchasing an additional 128,276 shares during the quarter. Virtu Financial LLC owned approximately 3.75% of Direxion Daily S&P 500 High Beta Bear 3X ETF worth $847,000 as of its most recent SEC filing.

Direxion Daily S&P 500 High Beta Bear 3X ETF Price Performance

NYSEARCA:HIBS traded up $2.14 during trading hours on Wednesday, hitting $19.36. 723,921 shares of the company traded hands, compared to its average volume of 253,372. The firm’s 50-day simple moving average is $18.27 and its 200-day simple moving average is $23.56. Direxion Daily S&P 500 High Beta Bear 3X ETF has a one year low of $15.00 and a one year high of $74.95.

Direxion Daily S&P 500 High Beta Bear 3X ETF Company Profile

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.