Direxion Daily S&P 500 Bear 1X ETF (NYSEARCA:SPDN – Get Free Report) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 966,785 shares, an increase of 509.3% from the August 15th total of 158,662 shares. Based on an average daily trading volume, of 28,702,348 shares, the short-interest ratio is currently 0.0 days. Approximately 3.7% of the shares of the company are sold short.
Hedge Funds Weigh In On Direxion Daily S&P 500 Bear 1X ETF
Institutional investors and hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC purchased a new position in Direxion Daily S&P 500 Bear 1X ETF in the 4th quarter valued at approximately $49,000. Strait & Sound Wealth Management LLC purchased a new stake in shares of Direxion Daily S&P 500 Bear 1X ETF in the first quarter valued at $100,000. Waverly Advisors LLC acquired a new position in shares of Direxion Daily S&P 500 Bear 1X ETF during the 1st quarter valued at about $136,000. IHT Wealth Management LLC acquired a new position in Direxion Daily S&P 500 Bear 1X ETF during the second quarter worth approximately $159,000. Finally, Moors & Cabot Inc. increased its holdings in shares of Direxion Daily S&P 500 Bear 1X ETF by 27.0% during the 3rd quarter. Moors & Cabot Inc. now owns 17,132 shares of the company’s stock worth $165,000 after buying an additional 3,647 shares during the last quarter.
Direxion Daily S&P 500 Bear 1X ETF Stock Performance
SPDN stock opened at $8.64 on Friday. The company has a fifty day moving average of $8.59 and a 200-day moving average of $8.98. Direxion Daily S&P 500 Bear 1X ETF has a one year low of $8.36 and a one year high of $10.28.
Direxion Daily S&P 500 Bear 1X ETF 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.
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