Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) Short Interest Up 154.0% in May

Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) was the target of a large growth in short interest in May. As of May 29th, there was short interest totaling 2,221,577 shares, a growth of 154.0% from the May 14th total of 874,683 shares. Based on an average daily volume of 54,851,031 shares, the days-to-cover ratio is currently 0.0 days. Approximately 9.0% of the shares of the stock are sold short.

Direxion Daily S&P 500 Bear 1x Shares Trading Down 0.5%

SPDN traded down $0.04 during trading on Friday, reaching $8.81. The company’s stock had a trading volume of 95,588,652 shares, compared to its average volume of 58,654,066. The firm has a fifty day simple moving average of $9.02 and a two-hundred day simple moving average of $9.34. Direxion Daily S&P 500 Bear 1x Shares has a 1 year low of $8.58 and a 1 year high of $10.88.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Moors & Cabot Inc. lifted its stake in Direxion Daily S&P 500 Bear 1x Shares by 8.9% in the 4th quarter. Moors & Cabot Inc. now owns 18,655 shares of the company’s stock worth $176,000 after purchasing an additional 1,523 shares in the last quarter. Advisory Services Network LLC lifted its stake in Direxion Daily S&P 500 Bear 1x Shares by 5.2% in the 3rd quarter. Advisory Services Network LLC now owns 39,495 shares of the company’s stock worth $380,000 after purchasing an additional 1,947 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in Direxion Daily S&P 500 Bear 1x Shares in the 4th quarter worth approximately $49,000. Leuthold Group LLC lifted its stake in Direxion Daily S&P 500 Bear 1x Shares by 0.4% in the 3rd quarter. Leuthold Group LLC now owns 1,738,823 shares of the company’s stock worth $16,710,000 after purchasing an additional 7,254 shares in the last quarter. Finally, A. D. Beadell Investment Counsel Inc. lifted its stake in Direxion Daily S&P 500 Bear 1x Shares by 60.0% in the 1st quarter. A. D. Beadell Investment Counsel Inc. now owns 20,000 shares of the company’s stock worth $199,000 after purchasing an additional 7,500 shares in the last quarter.

Direxion Daily S&P 500 Bear 1x Shares 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.