Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Shares Down 0.9%

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) shares were down 0.9% on Thursday . The stock traded as low as $21.88 and last traded at $22.11. Approximately 205,993 shares changed hands during trading, a decline of 43% from the average daily volume of 358,405 shares. The stock had previously closed at $22.30.

Direxion Daily S&P 500 High Beta Bear 3X Shares Trading Down 0.9 %

The company has a 50-day moving average price of $26.14 and a two-hundred day moving average price of $36.17.

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

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Group One Trading L.P. bought a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the third quarter worth approximately $44,000. Tower Research Capital LLC TRC increased its position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares by 457.7% in the third quarter. Tower Research Capital LLC TRC now owns 13,222 shares of the company’s stock worth $614,000 after purchasing an additional 10,851 shares during the last quarter. Procyon Advisors LLC bought a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the third quarter worth approximately $384,000. Prosperity Wealth Management Inc. bought a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the third quarter worth approximately $1,044,000. Finally, GTS Securities LLC increased its position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares by 77.9% in the fourth quarter. GTS Securities LLC now owns 15,212 shares of the company’s stock worth $413,000 after purchasing an additional 6,663 shares during the last quarter.

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.