Short Interest in Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Declines By 95.8%

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) saw a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 21,128 shares, a drop of 95.8% from the February 26th total of 502,860 shares. Based on an average trading volume of 622,235 shares, the days-to-cover ratio is currently 0.0 days. Currently, 4.7% of the company’s shares are sold short. Currently, 4.7% of the company’s shares are sold short. Based on an average trading volume of 622,235 shares, the days-to-cover ratio is currently 0.0 days.

Direxion Daily S&P 500 High Beta Bear 3X Shares Trading Down 2.5%

Shares of HIBS stock traded down $1.16 during trading on Wednesday, reaching $44.47. The company’s stock had a trading volume of 77,770 shares, compared to its average volume of 399,681. The stock’s 50-day moving average price is $43.82 and its 200 day moving average price is $52.65. Direxion Daily S&P 500 High Beta Bear 3X Shares has a 1-year low of $38.70 and a 1-year high of $416.90.

Institutional Investors Weigh In On Direxion Daily S&P 500 High Beta Bear 3X Shares

Large investors have recently bought and sold shares of the stock. Virtu Financial LLC raised its holdings in Direxion Daily S&P 500 High Beta Bear 3X Shares by 322.9% in the fourth quarter. Virtu Financial LLC now owns 168,005 shares of the company’s stock valued at $847,000 after acquiring an additional 128,276 shares in the last quarter. HRT Financial LP acquired a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the fourth quarter worth about $59,000. StoneX Group Inc. acquired a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the fourth quarter worth about $55,000. Prosperity Wealth Management Inc. raised its position in Direxion Daily S&P 500 High Beta Bear 3X Shares by 213.9% in the 3rd quarter. Prosperity Wealth Management Inc. now owns 249,733 shares of the company’s stock valued at $1,621,000 after purchasing an additional 170,165 shares during the last quarter. Finally, Group One Trading LLC purchased a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the third quarter valued at about $28,000.

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.