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

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) was the recipient of a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 19,901 shares, a drop of 36.5% from the June 15th total of 31,338 shares. Approximately 2.0% of the shares of the company are sold short. Based on an average trading volume of 180,586 shares, the days-to-cover ratio is presently 0.1 days.

Direxion Daily S&P 500 High Beta Bear 3X Shares Trading Up 3.9%

Shares of HIBS stock opened at $22.90 on Friday. The company has a 50 day moving average price of $21.72 and a 200-day moving average price of $34.83. Direxion Daily S&P 500 High Beta Bear 3X Shares has a 52 week low of $17.12 and a 52 week high of $89.90.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Group One Trading LLC bought a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the 3rd quarter valued at about $28,000. StoneX Group Inc. purchased a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the 4th quarter valued at about $55,000. HRT Financial LP bought a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the 4th quarter worth approximately $59,000. Tower Research Capital LLC TRC bought a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the 2nd quarter worth approximately $219,000. Finally, Virtu Financial LLC boosted its holdings in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares by 322.9% in the fourth quarter. Virtu Financial LLC now owns 168,005 shares of the company’s stock worth $847,000 after buying an additional 128,276 shares during the last quarter.

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

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.