Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) Sees Large Growth in Short Interest

Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totaling 1,350,714 shares, an increase of 57.6% from the December 31st total of 856,840 shares. Based on an average trading volume of 7,024,271 shares, the short-interest ratio is presently 0.2 days. Currently, 15.1% of the company’s stock are short sold. Currently, 15.1% of the company’s stock are short sold. Based on an average trading volume of 7,024,271 shares, the short-interest ratio is presently 0.2 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. CPR Investments Inc. purchased a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the second quarter valued at $83,000. SBI Securities Co. Ltd. increased its stake in shares of Direxion Daily S&P 500 Bear 3X Shares by 2.9% during the second quarter. SBI Securities Co. Ltd. now owns 257,051 shares of the company’s stock worth $1,206,000 after purchasing an additional 7,222 shares in the last quarter. MAI Capital Management purchased a new position in Direxion Daily S&P 500 Bear 3X Shares in the 2nd quarter valued at $40,000. Poehling Capital Management INC. purchased a new position in Direxion Daily S&P 500 Bear 3X Shares in the 2nd quarter worth approximately $155,000. Finally, JFS Wealth Advisors LLC boosted its position in shares of Direxion Daily S&P 500 Bear 3X Shares by 56.3% during the 2nd quarter. JFS Wealth Advisors LLC now owns 10,000 shares of the company’s stock valued at $47,000 after acquiring an additional 3,600 shares during the last quarter.

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

Direxion Daily S&P 500 Bear 3X Shares stock traded up $0.35 during midday trading on Friday, reaching $34.21. The company’s stock had a trading volume of 14,120,352 shares, compared to its average volume of 8,231,342. Direxion Daily S&P 500 Bear 3X Shares has a 52 week low of $33.29 and a 52 week high of $106.70. The business has a 50-day moving average price of $35.01 and a 200-day moving average price of $38.35.

About Direxion Daily S&P 500 Bear 3X Shares

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.