Direxion Daily S&P 500 Bear 3X Shares Target of Unusually Large Options Trading (NYSEARCA:SPXS)

Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) was the target of unusually large options trading activity on Thursday. Stock traders acquired 24,955 call options on the company. This is an increase of 60% compared to the typical daily volume of 15,617 call options.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the 2nd quarter worth $119,000. Jump Financial LLC acquired a new position in shares of Direxion Daily S&P 500 Bear 3X Shares during the 2nd quarter valued at about $1,537,000. Tower Research Capital LLC TRC boosted its position in shares of Direxion Daily S&P 500 Bear 3X Shares by 174.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 107,891 shares of the company’s stock valued at $506,000 after acquiring an additional 68,566 shares during the last quarter. Group One Trading LLC purchased a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the third quarter valued at about $310,000. Finally, BTG Pactual Asset Management US LLC purchased a new stake in shares of 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 Trading Down 1.9%

Shares of Direxion Daily S&P 500 Bear 3X Shares stock traded down $0.45 on Thursday, hitting $23.59. 10,449,927 shares of the company were exchanged, compared to its average volume of 13,447,410. The company has a 50-day moving average price of $26.57 and a 200 day moving average price of $31.19. Direxion Daily S&P 500 Bear 3X Shares has a 1-year low of $23.40 and a 1-year high of $44.83.

Direxion Daily S&P 500 Bear 3X Shares Company Profile

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.