Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) Short Interest Down 87.2% in August

Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) was the recipient of a significant decline in short interest during the month of August. As of August 14th, there was short interest totaling 158,662 shares, a decline of 87.2% from the July 30th total of 1,243,166 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average trading volume of 33,264,453 shares, the short-interest ratio is currently 0.0 days.

Direxion Daily S&P 500 Bear 1x Shares Stock Up 0.1%

NYSEARCA SPDN traded up $0.01 during mid-day trading on Wednesday, hitting $8.53. The stock had a trading volume of 25,663,938 shares, compared to its average volume of 52,335,559. The firm’s 50 day moving average is $8.65 and its 200 day moving average is $9.06. Direxion Daily S&P 500 Bear 1x Shares has a twelve month low of $8.36 and a twelve month high of $10.28.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Moors & Cabot Inc. grew its holdings in shares of Direxion Daily S&P 500 Bear 1x Shares by 8.9% in the fourth quarter. Moors & Cabot Inc. now owns 18,655 shares of the company’s stock valued at $176,000 after purchasing an additional 1,523 shares in the last quarter. Advisory Services Network LLC increased its stake in Direxion Daily S&P 500 Bear 1x Shares by 5.2% during the 3rd quarter. Advisory Services Network LLC now owns 39,495 shares of the company’s stock worth $380,000 after buying an additional 1,947 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in Direxion Daily S&P 500 Bear 1x Shares during the 4th quarter worth approximately $49,000. A. D. Beadell Investment Counsel Inc. lifted its holdings in Direxion Daily S&P 500 Bear 1x Shares by 60.0% during the 1st quarter. A. D. Beadell Investment Counsel Inc. now owns 20,000 shares of the company’s stock worth $199,000 after buying an additional 7,500 shares in the last quarter. Finally, Lifeworks Advisors LLC boosted its position in Direxion Daily S&P 500 Bear 1x Shares by 55.2% in the 1st quarter. Lifeworks Advisors LLC now owns 24,469 shares of the company’s stock valued at $243,000 after buying an additional 8,705 shares during the period.

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.