Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) Stock Price Down 0.5% – Here’s What Happened

Shares of Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) dropped 0.5% on Thursday . The company traded as low as $27.05 and last traded at $27.30. Approximately 18,694,130 shares were traded during mid-day trading, an increase of 31% from the average daily volume of 14,290,440 shares. The stock had previously closed at $27.45.

Direxion Daily S&P 500 Bear 3X Shares Price Performance

The business has a 50-day moving average price of $34.15 and a two-hundred day moving average price of $35.01.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada purchased a new stake in Direxion Daily S&P 500 Bear 3X Shares in the 1st quarter valued at about $81,000. PayPay Securities Corp grew its holdings in Direxion Daily S&P 500 Bear 3X Shares by 145.2% in the 4th quarter. PayPay Securities Corp now owns 3,008 shares of the company’s stock valued at $107,000 after buying an additional 1,781 shares during the period. Guardian Partners Inc. purchased a new stake in Direxion Daily S&P 500 Bear 3X Shares in the 1st quarter valued at about $203,000. BTG Pactual Asset Management US LLC purchased a new stake in Direxion Daily S&P 500 Bear 3X Shares in the 3rd quarter valued at about $220,000. Finally, Group One Trading LLC purchased a new stake in Direxion Daily S&P 500 Bear 3X Shares in the 3rd quarter valued at about $310,000.

About Direxion Daily S&P 500 Bear 3X Shares

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.