Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN – Get Free Report) saw a large growth in short interest in the month of May. As of May 29th, there was short interest totaling 2,221,577 shares, a growth of 154.0% from the May 14th total of 874,683 shares. Currently, 9.0% of the shares of the company are short sold. Based on an average daily trading volume, of 54,851,031 shares, the days-to-cover ratio is presently 0.0 days.
Direxion Daily S&P 500 Bear 1x Shares Stock Performance
SPDN traded down $0.04 during trading on Friday, hitting $8.81. The stock had a trading volume of 95,588,652 shares, compared to its average volume of 58,654,066. The company’s 50-day moving average price is $9.02 and its 200 day moving average price is $9.34. Direxion Daily S&P 500 Bear 1x Shares has a twelve month low of $8.58 and a twelve month high of $10.88.
Hedge Funds Weigh In On Direxion Daily S&P 500 Bear 1x Shares
Institutional investors have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC acquired a new position in Direxion Daily S&P 500 Bear 1x Shares in the 4th quarter valued at $49,000. Strait & Sound Wealth Management LLC acquired a new position in Direxion Daily S&P 500 Bear 1x Shares in the 1st quarter valued at $100,000. A. D. Beadell Investment Counsel Inc. acquired a new position in Direxion Daily S&P 500 Bear 1x Shares in the 4th quarter valued at $117,000. Waverly Advisors LLC acquired a new position in Direxion Daily S&P 500 Bear 1x Shares in the 1st quarter valued at $136,000. Finally, IHT Wealth Management LLC acquired a new position in Direxion Daily S&P 500 Bear 1x Shares in the 2nd quarter valued at $159,000.
About Direxion Daily S&P 500 Bear 1x Shares
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.
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