Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $28.01, but opened at $27.68. Direxion Daily S&P 500 Bear 3X Shares shares last traded at $27.00, with a volume of 295518 shares trading hands.

A number of hedge funds and other institutional investors have recently made changes to their positions in SPXS. UBS Group AG acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the first quarter worth $135,000. ING Groep NV acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the second quarter worth $238,000. Annex Advisory Services LLC acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the third quarter worth $214,000. Lido Advisors LLC increased its position in shares of Direxion Daily S&P 500 Bear 3X Shares by 107.2% during the second quarter. Lido Advisors LLC now owns 87,991 shares of the company’s stock worth $2,329,000 after buying an additional 45,519 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the second quarter worth $1,289,000.

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About Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS)

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.

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