Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Short Interest Update

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) saw a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 27,979 shares, a drop of 62.9% from the July 15th total of 75,508 shares. Based on an average daily volume of 310,328 shares, the days-to-cover ratio is currently 0.1 days. Approximately 3.0% of the shares of the company are sold short.

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

Shares of Direxion Daily S&P 500 High Beta Bear 3X Shares stock traded down $0.22 during trading hours on Friday, hitting $17.57. 13,563 shares of the company were exchanged, compared to its average volume of 264,304. Direxion Daily S&P 500 High Beta Bear 3X Shares has a 1 year low of $17.12 and a 1 year high of $86.25. The business has a 50-day moving average of $20.46 and a 200-day moving average of $31.55.

Hedge Funds Weigh In On Direxion Daily S&P 500 High Beta Bear 3X Shares

Several institutional investors have recently bought and sold shares of the company. 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 valued at $847,000 after acquiring an additional 128,276 shares in the last quarter. HRT Financial LP acquired a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the fourth quarter worth about $59,000. StoneX Group Inc. purchased a new position in Direxion Daily S&P 500 High Beta Bear 3X Shares during the fourth quarter worth about $55,000. Prosperity Wealth Management Inc. raised its holdings in Direxion Daily S&P 500 High Beta Bear 3X Shares by 213.9% during the third quarter. Prosperity Wealth Management Inc. now owns 249,733 shares of the company’s stock worth $1,621,000 after purchasing an additional 170,165 shares in the last quarter. Finally, Tower Research Capital LLC TRC acquired a new stake in Direxion Daily S&P 500 High Beta Bear 3X Shares in the second quarter valued at about $219,000.

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.