Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Short Interest Up 279.4% in July

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) was the target of a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 75,508 shares, an increase of 279.4% from the June 30th total of 19,901 shares. Based on an average daily trading volume, of 166,895 shares, the short-interest ratio is currently 0.5 days. Approximately 6.9% of the shares of the company are short sold.

Direxion Daily S&P 500 High Beta Bear 3X Shares Stock Down 0.6%

HIBS stock traded down $0.13 during trading on Monday, reaching $22.52. 397,235 shares of the stock were exchanged, compared to its average volume of 270,711. Direxion Daily S&P 500 High Beta Bear 3X Shares has a twelve month low of $17.12 and a twelve month high of $89.90. The stock has a 50 day simple moving average of $21.30 and a 200-day simple moving average of $33.80.

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

A number of hedge funds have recently modified their holdings of the company. Group One Trading LLC bought a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the third quarter valued at approximately $28,000. StoneX Group Inc. acquired a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the 4th quarter valued at $55,000. HRT Financial LP acquired a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the 4th quarter valued at $59,000. Tower Research Capital LLC TRC bought a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the 2nd quarter worth about $219,000. Finally, Virtu Financial LLC lifted its holdings in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares by 322.9% during the 4th quarter. Virtu Financial LLC now owns 168,005 shares of the company’s stock worth $847,000 after acquiring an additional 128,276 shares during the period.

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.