Short Interest in Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) Expands By 18.0%

Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) was the target of a significant growth in short interest in April. As of April 15th, there was short interest totaling 1,840,833 shares, a growth of 18.0% from the March 31st total of 1,559,856 shares. Based on an average daily volume of 15,355,913 shares, the short-interest ratio is presently 0.1 days. Approximately 12.9% of the shares of the company are sold short.

Direxion Daily S&P 500 Bear 3X Shares Stock Down 0.8%

Shares of NYSEARCA SPXS traded down $0.25 during trading hours on Friday, reaching $29.80. The stock had a trading volume of 10,852,967 shares, compared to its average volume of 14,479,888. Direxion Daily S&P 500 Bear 3X Shares has a fifty-two week low of $29.28 and a fifty-two week high of $65.10. The firm has a 50-day moving average of $36.16 and a 200-day moving average of $35.86.

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

A number of hedge funds have recently modified their holdings of SPXS. PayPay Securities Corp increased its holdings in shares of Direxion Daily S&P 500 Bear 3X Shares by 145.2% in the 4th quarter. PayPay Securities Corp now owns 3,008 shares of the company’s stock valued at $107,000 after acquiring an additional 1,781 shares during the period. BTG Pactual Asset Management US LLC acquired a new stake in Direxion Daily S&P 500 Bear 3X Shares during the 3rd quarter worth $220,000. Kiker Wealth Management LLC purchased a new position in Direxion Daily S&P 500 Bear 3X Shares during the 3rd quarter worth $228,000. Global Retirement Partners LLC grew its position in Direxion Daily S&P 500 Bear 3X Shares by 12,458.3% during the 3rd quarter. Global Retirement Partners LLC now owns 6,028 shares of the company’s stock worth $229,000 after purchasing an additional 5,980 shares during the last quarter. Finally, Group One Trading LLC acquired a new position in Direxion Daily S&P 500 Bear 3X Shares in the third quarter valued at $310,000.

About Direxion Daily S&P 500 Bear 3X Shares

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.