Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) Sees Significant Decline in Short Interest

Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) was the recipient of a significant decrease in short interest in December. As of December 31st, there was short interest totaling 856,840 shares, a decrease of 34.2% from the December 15th total of 1,301,508 shares. Based on an average trading volume of 5,681,935 shares, the days-to-cover ratio is presently 0.2 days. Approximately 9.7% of the shares of the stock are short sold. Approximately 9.7% of the shares of the stock are short sold. Based on an average trading volume of 5,681,935 shares, the days-to-cover ratio is presently 0.2 days.

Direxion Daily S&P 500 Bear 3X Shares Stock Down 0.2%

Shares of NYSEARCA:SPXS traded down $0.05 on Friday, hitting $34.02. The stock had a trading volume of 3,801,094 shares, compared to its average volume of 6,695,346. The firm’s 50 day moving average price is $35.74 and its 200-day moving average price is $39.30. Direxion Daily S&P 500 Bear 3X Shares has a twelve month low of $33.47 and a twelve month high of $106.70.

Institutional Trading of Direxion Daily S&P 500 Bear 3X Shares

Several large investors have recently added to or reduced their stakes in SPXS. BTG Pactual Asset Management US LLC bought a new position in shares of Direxion Daily S&P 500 Bear 3X Shares in the third quarter valued at approximately $220,000. Kiker Wealth Management LLC acquired a new stake in Direxion Daily S&P 500 Bear 3X Shares during the 3rd quarter valued at $228,000. Global Retirement Partners LLC increased its holdings in Direxion Daily S&P 500 Bear 3X Shares by 12,458.3% during the 3rd quarter. Global Retirement Partners LLC now owns 6,028 shares of the company’s stock valued at $229,000 after purchasing an additional 5,980 shares in the last quarter. Group One Trading LLC bought a new position in Direxion Daily S&P 500 Bear 3X Shares in the 3rd quarter valued at $310,000. Finally, MAI Capital Management acquired a new position in Direxion Daily S&P 500 Bear 3X Shares in the second quarter worth $40,000.

Direxion Daily S&P 500 Bear 3X Shares Company Profile

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.