Envestnet Asset Management Inc. Reduces Stock Position in Direxion Daily S&P 500 Bear 1x Shares $SPDN

Envestnet Asset Management Inc. reduced its holdings in shares of Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) by 88.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 172,654 shares of the company’s stock after selling 1,261,387 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Direxion Daily S&P 500 Bear 1x Shares were worth $1,778,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Belmont Capital LLC bought a new stake in shares of Direxion Daily S&P 500 Bear 1x Shares in the first quarter worth $38,000. Headlands Technologies LLC grew its holdings in Direxion Daily S&P 500 Bear 1x Shares by 55.4% during the 1st quarter. Headlands Technologies LLC now owns 3,558 shares of the company’s stock worth $41,000 after acquiring an additional 1,269 shares in the last quarter. Allium Financial Advisors LLC acquired a new position in Direxion Daily S&P 500 Bear 1x Shares during the 1st quarter worth $124,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Direxion Daily S&P 500 Bear 1x Shares by 32.5% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,500 shares of the company’s stock worth $273,000 after purchasing an additional 6,500 shares during the last quarter. Finally, Avior Wealth Management LLC bought a new stake in shares of Direxion Daily S&P 500 Bear 1x Shares in the 2nd quarter worth about $279,000.

Direxion Daily S&P 500 Bear 1x Shares Stock Up 0.9%

Shares of SPDN stock opened at $9.78 on Wednesday. Direxion Daily S&P 500 Bear 1x Shares has a one year low of $9.33 and a one year high of $13.35. The company’s 50-day simple moving average is $9.62 and its 200-day simple moving average is $10.15.

Direxion Daily S&P 500 Bear 1x Shares Profile

The Direxion Daily S&P 500 Bear 1X Shares (SPDN) is an exchange-traded fund that is based on the S&P 500 index. The fund provides daily inverse exposure to the S&P 500, a market-cap-weighted index of 500 US large-cap firms selected by the S&Ps index committee. SPDN was launched on Jun 8, 2016 and is managed by Direxion.