Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) Shares Down 4.9% – Here’s What Happened

Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) fell 4.9% during trading on Thursday . The company traded as low as $27.57 and last traded at $27.87. 27,409,056 shares were traded during mid-day trading, an increase of 88% from the average session volume of 14,549,145 shares. The stock had previously closed at $29.31.

Direxion Daily S&P 500 Bear 3X Shares Stock Down 4.9%

The business’s fifty day moving average is $30.20 and its 200 day moving average is $33.90.

Institutional Investors Weigh In On Direxion Daily S&P 500 Bear 3X Shares

Large investors have recently made changes to their positions in the company. Royal Bank of Canada acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the first quarter valued at approximately $81,000. PayPay Securities Corp raised its holdings in shares of Direxion Daily S&P 500 Bear 3X Shares by 145.2% during the fourth 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. JPMorgan Chase & Co. acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the second quarter valued at approximately $119,000. Guardian Partners Inc. acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the first quarter valued at approximately $203,000. Finally, BTG Pactual Asset Management US LLC acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the third quarter valued at approximately $220,000.

Direxion Daily S&P 500 Bear 3X Shares Company Profile

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.