Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS – Get Free Report) was the target of a large drop in short interest in the month of February. As of February 27th, there was short interest totaling 502,860 shares, a drop of 17.3% from the February 12th total of 608,045 shares. Based on an average daily volume of 8,916,842 shares, the days-to-cover ratio is presently 0.1 days. Currently, 111.7% of the company’s stock are short sold. Currently, 111.7% of the company’s stock are short sold. Based on an average daily volume of 8,916,842 shares, the days-to-cover ratio is presently 0.1 days.
Institutional Investors Weigh In On Direxion Daily S&P 500 High Beta Bear 3X Shares
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Group One Trading LLC acquired a new position in Direxion Daily S&P 500 High Beta Bear 3X Shares during the 3rd quarter valued at about $28,000. StoneX Group Inc. purchased a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the fourth quarter worth approximately $55,000. HRT Financial LP bought a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the fourth quarter valued at approximately $59,000. Tower Research Capital LLC TRC bought a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the second quarter valued at approximately $219,000. Finally, Virtu Financial LLC boosted its position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares by 322.9% during the fourth quarter. Virtu Financial LLC now owns 168,005 shares of the company’s stock valued at $847,000 after buying an additional 128,276 shares during the last quarter.
Direxion Daily S&P 500 High Beta Bear 3X Shares Stock Performance
HIBS traded down $0.16 during trading on Wednesday, hitting $44.80. 11,460 shares of the company’s stock were exchanged, compared to its average volume of 424,634. The business’s 50 day moving average is $43.51 and its two-hundred day moving average is $53.69. Direxion Daily S&P 500 High Beta Bear 3X Shares has a fifty-two week low of $38.70 and a fifty-two week high of $416.90.
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.
Further Reading
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