Traders Buy High Volume of Put Options on Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN)

Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) was the target of some unusual options trading on Tuesday. Investors bought 4,442 put options on the company. This is an increase of approximately 1,635% compared to the average daily volume of 256 put options.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SPDN. NewEdge Advisors LLC grew its holdings in Direxion Daily S&P 500 Bear 1x Shares by 69.6% in the first quarter. NewEdge Advisors LLC now owns 841,700 shares of the company’s stock valued at $8,375,000 after purchasing an additional 345,450 shares during the period. Verus Capital Partners LLC boosted its holdings in shares of Direxion Daily S&P 500 Bear 1x Shares by 119.0% in the 1st quarter. Verus Capital Partners LLC now owns 142,931 shares of the company’s stock valued at $1,422,000 after purchasing an additional 77,678 shares during the last quarter. January Capital Advisors LLC acquired a new position in shares of Direxion Daily S&P 500 Bear 1x Shares in the 1st quarter valued at $1,977,000. Strait & Sound Wealth Management LLC purchased a new stake in shares of Direxion Daily S&P 500 Bear 1x Shares during the 1st quarter valued at $100,000. Finally, Waverly Advisors LLC purchased a new stake in shares of Direxion Daily S&P 500 Bear 1x Shares during the 1st quarter valued at $136,000.

Direxion Daily S&P 500 Bear 1x Shares Trading Down 0.5%

Direxion Daily S&P 500 Bear 1x Shares stock opened at $8.52 on Wednesday. The stock has a fifty day moving average price of $8.65 and a 200 day moving average price of $9.06. Direxion Daily S&P 500 Bear 1x Shares has a 52 week low of $8.36 and a 52 week high of $10.28.

Direxion Daily S&P 500 Bear 1x Shares Company 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.