Short Interest in Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) Drops By 20.1%
by Tristan Rich · The Markets DailyDirexion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS – Get Free Report) saw a significant decline in short interest in February. As of February 27th, there was short interest totaling 1,731,976 shares, a decline of 20.1% from the February 12th total of 2,168,571 shares. Currently, 18.9% of the company’s stock are short sold. Based on an average daily volume of 10,743,385 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 10,743,385 shares, the days-to-cover ratio is currently 0.2 days. Currently, 18.9% of the company’s stock are short sold.
Direxion Daily S&P 500 Bear 3X Shares Price Performance
Shares of SPXS stock traded down $0.29 during trading hours on Tuesday, reaching $37.75. The company had a trading volume of 10,372,161 shares, compared to its average volume of 13,050,476. Direxion Daily S&P 500 Bear 3X Shares has a twelve month low of $33.29 and a twelve month high of $106.70. The stock’s fifty day simple moving average is $35.19 and its 200 day simple moving average is $36.55.
Institutional Trading of Direxion Daily S&P 500 Bear 3X Shares
A number of hedge funds have recently made changes to their positions in the company. Poehling Capital Management INC. purchased a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the second quarter valued at approximately $155,000. JPMorgan Chase & Co. acquired a new stake in Direxion Daily S&P 500 Bear 3X Shares during the 2nd quarter valued at $119,000. MAI Capital Management acquired a new stake in Direxion Daily S&P 500 Bear 3X Shares during the 2nd quarter valued at $40,000. Jump Financial LLC acquired a new stake in Direxion Daily S&P 500 Bear 3X Shares during the 2nd quarter valued at $1,537,000. Finally, Tower Research Capital LLC TRC increased its stake in Direxion Daily S&P 500 Bear 3X Shares by 174.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 107,891 shares of the company’s stock worth $506,000 after buying an additional 68,566 shares during the period.
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.