Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) Shares Down 2.3%

Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS)’s share price dropped 2.3% during mid-day trading on Tuesday . The company traded as low as $9.85 and last traded at $9.87. Approximately 5,659,134 shares were traded during trading, a decline of 79% from the average daily volume of 27,439,699 shares. The stock had previously closed at $10.10.

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

The firm has a 50 day simple moving average of $9.46 and a two-hundred day simple moving average of $11.78.

Hedge Funds Weigh In On Direxion Daily S&P 500 Bear 3X Shares

A number of institutional investors and hedge funds have recently bought and sold shares of SPXS. Cruiser Capital Advisors LLC acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the 4th quarter worth approximately $116,000. Rathbones Group PLC bought a new stake in Direxion Daily S&P 500 Bear 3X Shares in the fourth quarter valued at $139,000. PayPay Securities Corp boosted its position in shares of Direxion Daily S&P 500 Bear 3X Shares by 96.7% during the 3rd quarter. PayPay Securities Corp now owns 9,399 shares of the company’s stock worth $148,000 after purchasing an additional 4,620 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the 3rd quarter valued at about $166,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in Direxion Daily S&P 500 Bear 3X Shares in the 4th quarter valued at about $173,000.

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.