Short Interest in Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Expands By 129.9%

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) was the recipient of a significant increase in short interest during the month of December. As of December 15th, there was short interest totaling 190,397 shares, an increase of 129.9% from the November 30th total of 82,820 shares. Currently, 3.5% of the company’s shares are short sold. Based on an average daily volume of 2,242,584 shares, the short-interest ratio is currently 0.1 days. Based on an average daily volume of 2,242,584 shares, the short-interest ratio is currently 0.1 days. Currently, 3.5% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Group One Trading LLC purchased a new position in Direxion Daily S&P 500 High Beta Bear 3X Shares during the third quarter valued at approximately $28,000. Tower Research Capital LLC TRC purchased a new stake in Direxion Daily S&P 500 High Beta Bear 3X Shares during the second quarter worth $219,000. Prosperity Wealth Management Inc. boosted its position in Direxion Daily S&P 500 High Beta Bear 3X Shares by 213.9% during the 3rd quarter. Prosperity Wealth Management Inc. now owns 249,733 shares of the company’s stock valued at $1,621,000 after acquiring an additional 170,165 shares in the last quarter. Finally, Choreo LLC purchased a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the 3rd quarter valued at $2,366,000.

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

Shares of NYSEARCA:HIBS traded up $0.02 during trading on Friday, reaching $4.70. 612,675 shares of the company were exchanged, compared to its average volume of 724,181. The business’s fifty day simple moving average is $5.57 and its 200-day simple moving average is $7.13. Direxion Daily S&P 500 High Beta Bear 3X Shares has a 12-month low of $4.61 and a 12-month high of $41.69.

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.