Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) Short Interest Down 35.6% in July

Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) was the target of a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 1,881,444 shares, a drop of 35.6% from the June 30th total of 2,921,001 shares. Approximately 15.6% of the shares of the company are short sold. Based on an average trading volume of 9,433,349 shares, the short-interest ratio is currently 0.2 days.

Hedge Funds Weigh In On Direxion Daily S&P 500 Bear 3X Shares

Large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. bought a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the 2nd quarter valued at $119,000. Jump Financial LLC bought a new position in shares of Direxion Daily S&P 500 Bear 3X Shares in the 2nd quarter worth $1,537,000. Tower Research Capital LLC TRC grew its stake in shares of Direxion Daily S&P 500 Bear 3X Shares by 174.4% during the second quarter. Tower Research Capital LLC TRC now owns 107,891 shares of the company’s stock worth $506,000 after purchasing an additional 68,566 shares during the period. Group One Trading LLC acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the third quarter worth $310,000. Finally, BTG Pactual Asset Management US LLC bought a new stake in Direxion Daily S&P 500 Bear 3X Shares in the third quarter valued at about $220,000.

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

Shares of NYSEARCA SPXS traded down $0.61 during trading hours on Friday, reaching $26.52. The stock had a trading volume of 15,135,293 shares, compared to its average volume of 13,585,410. The business’s fifty day moving average is $26.88 and its two-hundred day moving average is $31.82. Direxion Daily S&P 500 Bear 3X Shares has a twelve month low of $25.53 and a twelve month high of $47.20.

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.