Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS – Get Free Report) was the target of a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 38,055 shares, a decrease of 35.7% from the May 14th total of 59,162 shares. Approximately 5.9% of the company’s stock are short sold. Based on an average daily trading volume, of 187,079 shares, the days-to-cover ratio is presently 0.2 days.
Institutional Investors Weigh In On Direxion Daily S&P 500 High Beta Bear 3X Shares
Institutional investors and hedge funds have recently bought and sold shares of the stock. Group One Trading LLC purchased a new stake in Direxion Daily S&P 500 High Beta Bear 3X Shares in the 3rd quarter valued at $28,000. StoneX Group Inc. purchased a new stake in Direxion Daily S&P 500 High Beta Bear 3X Shares in the 4th quarter valued at $55,000. HRT Financial LP purchased a new stake in Direxion Daily S&P 500 High Beta Bear 3X Shares in the 4th quarter valued at $59,000. Tower Research Capital LLC TRC purchased a new stake in Direxion Daily S&P 500 High Beta Bear 3X Shares in the 2nd quarter valued at $219,000. Finally, Virtu Financial LLC increased its position 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 valued at $847,000 after purchasing an additional 128,276 shares during the last quarter.
Direxion Daily S&P 500 High Beta Bear 3X Shares Trading Up 1.1%
NYSEARCA HIBS traded up $0.20 on Tuesday, reaching $18.65. The company had a trading volume of 91,349 shares, compared to its average volume of 286,116. The company’s fifty day moving average is $28.68 and its 200 day moving average is $40.03. Direxion Daily S&P 500 High Beta Bear 3X Shares has a 52-week low of $17.83 and a 52-week high of $116.40.
Direxion Daily S&P 500 High Beta Bear 3X Shares Company Profile
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.
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