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

Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) was the recipient of a large increase in short interest during the month of February. As of February 13th, there was short interest totaling 2,168,571 shares, an increase of 46.5% from the January 29th total of 1,479,980 shares. Based on an average daily trading volume, of 10,990,388 shares, the days-to-cover ratio is currently 0.2 days. Currently, 23.6% of the company’s stock are sold short. Currently, 23.6% of the company’s stock are sold short. Based on an average daily trading volume, of 10,990,388 shares, the days-to-cover ratio is currently 0.2 days.

Direxion Daily S&P 500 Bear 3X Shares Trading Up 3.4%

Direxion Daily S&P 500 Bear 3X Shares stock traded up $1.21 during midday trading on Tuesday, reaching $36.40. The company’s stock had a trading volume of 22,888,921 shares, compared to its average volume of 10,066,250. The stock’s 50-day simple moving average is $34.64 and its 200-day simple moving average is $36.96. Direxion Daily S&P 500 Bear 3X Shares has a 52-week low of $33.29 and a 52-week high of $106.70.

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

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Corient Private Wealth LLC acquired a new position in shares of Direxion Daily S&P 500 Bear 3X Shares in the 4th quarter valued at $359,000. XTX Topco Ltd purchased a new stake in Direxion Daily S&P 500 Bear 3X Shares during the 4th quarter valued at about $348,000. Quadrature Capital Ltd acquired a new position in shares of Direxion Daily S&P 500 Bear 3X Shares in the fourth quarter valued at about $1,063,000. Squarepoint Ops LLC purchased a new position in shares of Direxion Daily S&P 500 Bear 3X Shares in the fourth quarter worth about $421,000. Finally, IMC Chicago LLC acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the fourth quarter worth about $8,967,000.

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.