Direxion Daily S&P 500 Bear 3X ETF (NYSEARCA:SPXS) Stock Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Direxion Daily S&P 500 Bear 3X ETF (NYSEARCA:SPXS)’s stock price passed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $24.51 and traded as high as $26.14. Direxion Daily S&P 500 Bear 3X ETF shares last traded at $25.63, with a volume of 15,979,723 shares changing hands.

Direxion Daily S&P 500 Bear 3X ETF Stock Performance

The stock has a 50 day simple moving average of $24.51 and a 200 day simple moving average of $29.43.

Institutional Investors Weigh In On Direxion Daily S&P 500 Bear 3X ETF

A number of large investors have recently modified their holdings of SPXS. Royal Bank of Canada bought a new position in shares of Direxion Daily S&P 500 Bear 3X ETF in the 1st quarter worth about $81,000. PayPay Securities Corp boosted its stake in Direxion Daily S&P 500 Bear 3X ETF by 242.3% in the second quarter. PayPay Securities Corp now owns 4,836 shares of the company’s stock valued at $128,000 after acquiring an additional 3,423 shares during the period. Simplicity Wealth LLC boosted its stake in Direxion Daily S&P 500 Bear 3X ETF by 52.1% in the third quarter. Simplicity Wealth LLC now owns 11,639 shares of the company’s stock valued at $288,000 after acquiring an additional 3,989 shares during the period. Guardian Partners Inc. bought a new position in shares of Direxion Daily S&P 500 Bear 3X ETF during the first quarter valued at approximately $203,000. Finally, IFP Advisors Inc grew its holdings in shares of Direxion Daily S&P 500 Bear 3X ETF by 53,233.3% during the third quarter. IFP Advisors Inc now owns 8,000 shares of the company’s stock valued at $198,000 after purchasing an additional 7,985 shares during the last quarter.

About Direxion Daily S&P 500 Bear 3X ETF

Direxion Daily S&P 500 Bear 3X Shares ETF, formerly Direxion Daily S&P 500 Bear 3X Shares, seeks daily investment results of 300% of the inverse (or opposite) of the price performance of the S&P 500 Index. The S&P 500 Index is a capitalization-weighted index composed of 500 domestic common stocks. Standard & Poor’s selects the 500 stocks comprising the Index on the basis of market values and industry diversification. Most of the stocks in the Index are issued by the 500 largest companies, in terms of the aggregate market value of their outstanding stock, and generally are listed on the New York Stock Exchange.