Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) Sees Large Increase in Short Interest

Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) saw a significant increase in short interest in December. As of December 31st, there was short interest totaling 2,091,213 shares, an increase of 21.4% from the December 15th total of 1,722,639 shares. Currently, 9.6% of the shares of the company are sold short. Based on an average daily volume of 23,219,084 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 23,219,084 shares, the days-to-cover ratio is presently 0.1 days. Currently, 9.6% of the shares of the company are sold short.

Hedge Funds Weigh In On Direxion Daily S&P 500 Bear 1x Shares

Several hedge funds have recently bought and sold shares of SPDN. Simplex Trading LLC increased its holdings in Direxion Daily S&P 500 Bear 1x Shares by 139.5% during the 2nd quarter. Simplex Trading LLC now owns 2,635 shares of the company’s stock worth $27,000 after acquiring an additional 1,535 shares during the period. Cushing Capital Partners LLC grew its position in shares of Direxion Daily S&P 500 Bear 1x Shares by 3.4% during the 2nd quarter. Cushing Capital Partners LLC now owns 46,255 shares of the company’s stock valued at $483,000 after purchasing an additional 1,538 shares in the last quarter. Advisory Services Network LLC increased its holdings in shares of Direxion Daily S&P 500 Bear 1x Shares by 5.2% in the third quarter. Advisory Services Network LLC now owns 39,495 shares of the company’s stock worth $380,000 after purchasing an additional 1,947 shares during the period. Maltin Wealth Management Inc. raised its position in shares of Direxion Daily S&P 500 Bear 1x Shares by 5.4% in the third quarter. Maltin Wealth Management Inc. now owns 60,707 shares of the company’s stock worth $583,000 after buying an additional 3,136 shares in the last quarter. Finally, Moors & Cabot Inc. raised its position in shares of Direxion Daily S&P 500 Bear 1x Shares by 27.0% in the third quarter. Moors & Cabot Inc. now owns 17,132 shares of the company’s stock worth $165,000 after buying an additional 3,647 shares in the last quarter.

Direxion Daily S&P 500 Bear 1x Shares Stock Performance

SPDN traded up $0.01 during trading on Monday, reaching $9.33. 23,690,757 shares of the company were exchanged, compared to its average volume of 24,558,342. Direxion Daily S&P 500 Bear 1x Shares has a 12-month low of $9.26 and a 12-month high of $13.35. The company’s 50-day moving average is $9.47 and its two-hundred day moving average is $9.73.

Direxion Daily S&P 500 Bear 1x Shares Company Profile

The Direxion Daily S&P 500 Bear 1X Shares (SPDN) is an exchange-traded fund that is based on the S&P 500 index. The fund provides daily inverse exposure to the S&P 500, a market-cap-weighted index of 500 US large-cap firms selected by the S&Ps index committee. SPDN was launched on Jun 8, 2016 and is managed by Direxion.