Direxion Daily S&P 500 Bear 1X ETF (NYSEARCA:SPDN – Get Free Report) was the target of a large increase in short interest in August. As of August 31st, there was short interest totaling 966,785 shares, an increase of 509.3% from the August 15th total of 158,662 shares. Approximately 3.7% of the shares of the stock are short sold. Based on an average trading volume of 28,702,348 shares, the days-to-cover ratio is presently 0.0 days.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Harmony Asset Management LLC acquired a new stake in shares of Direxion Daily S&P 500 Bear 1X ETF in the fourth quarter worth $1,232,000. IMC Chicago LLC lifted its stake in Direxion Daily S&P 500 Bear 1X ETF by 306.9% in the 1st quarter. IMC Chicago LLC now owns 974,315 shares of the company’s stock worth $9,694,000 after acquiring an additional 734,884 shares in the last quarter. SB Capital Management Inc acquired a new stake in Direxion Daily S&P 500 Bear 1X ETF during the 4th quarter worth about $1,031,000. January Capital Advisors LLC purchased a new position in Direxion Daily S&P 500 Bear 1X ETF during the 1st quarter valued at about $1,977,000. Finally, NewEdge Advisors LLC grew its stake in Direxion Daily S&P 500 Bear 1X ETF by 69.6% during the 1st quarter. NewEdge Advisors LLC now owns 841,700 shares of the company’s stock valued at $8,375,000 after acquiring an additional 345,450 shares in the last quarter.
Direxion Daily S&P 500 Bear 1X ETF Stock Down 0.7%
Shares of Direxion Daily S&P 500 Bear 1X ETF stock traded down $0.06 on Friday, reaching $8.58. 31,509,966 shares of the company were exchanged, compared to its average volume of 51,115,660. Direxion Daily S&P 500 Bear 1X ETF has a fifty-two week low of $8.36 and a fifty-two week high of $10.28. The stock has a fifty day moving average price of $8.59 and a 200-day moving average price of $8.98.
Direxion Daily S&P 500 Bear 1X ETF Company Profile
The Direxion Daily S&P 500 Bear 1X Shares (SPDN) is an exchange-traded fund that is based on the S&P 500 index. The fund provides daily inverse exposure to the S&P 500, a market-cap-weighted index of 500 US large-cap firms selected by the S&Ps index committee. SPDN was launched on Jun 8, 2016 and is managed by Direxion.
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