Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Sees Significant Decline in Short Interest

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) was the target of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totaling 27,979 shares, a decrease of 62.9% from the July 15th total of 75,508 shares. Currently, 3.0% of the shares of the company are sold short. Based on an average daily volume of 310,328 shares, the days-to-cover ratio is presently 0.1 days.

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

Direxion Daily S&P 500 High Beta Bear 3X Shares stock traded down $0.12 during midday trading on Friday, reaching $17.67. 112,287 shares of the stock were exchanged, compared to its average volume of 264,974. The company’s fifty day moving average is $20.33 and its 200-day moving average is $31.45. Direxion Daily S&P 500 High Beta Bear 3X Shares has a 52 week low of $17.12 and a 52 week high of $86.25.

Institutional Trading of Direxion Daily S&P 500 High Beta Bear 3X Shares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Prosperity Wealth Management Inc. boosted its holdings in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares by 213.9% during the 3rd quarter. Prosperity Wealth Management Inc. now owns 249,733 shares of the company’s stock valued at $1,621,000 after buying an additional 170,165 shares in the last quarter. Virtu Financial LLC increased its position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares by 322.9% during the fourth quarter. Virtu Financial LLC now owns 168,005 shares of the company’s stock valued at $847,000 after acquiring an additional 128,276 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the second quarter worth $219,000. HRT Financial LP bought a new position in Direxion Daily S&P 500 High Beta Bear 3X Shares during the 4th quarter valued at about $59,000. Finally, StoneX Group Inc. purchased a new stake in Direxion Daily S&P 500 High Beta Bear 3X Shares in the fourth quarter worth approximately $55,000.

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

The Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) is an exchange-traded fund that is based on the S&P 500 High Beta index. The fund provides 3x daily inverse exposure to a beta-weighted index of 100 highest-beta stocks in the S&P 500. HIBS was launched on Nov 7, 2019 and is managed by Direxion.