Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Short Interest Update

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) was the recipient of a large decrease in short interest in May. As of May 29th, there was short interest totaling 38,055 shares, a decrease of 35.7% from the May 14th total of 59,162 shares. Currently, 5.9% of the company’s shares are sold short. Based on an average daily trading volume, of 187,079 shares, the short-interest ratio is presently 0.2 days.

Direxion Daily S&P 500 High Beta Bear 3X Shares Price Performance

Shares of Direxion Daily S&P 500 High Beta Bear 3X Shares stock traded up $0.20 on Tuesday, reaching $18.65. 91,349 shares of the company’s stock were exchanged, compared to its average volume of 286,116. Direxion Daily S&P 500 High Beta Bear 3X Shares has a 52 week low of $17.83 and a 52 week high of $116.40. The firm’s 50-day moving average is $28.68 and its two-hundred day moving average is $40.03.

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

A number of institutional investors and hedge funds have recently modified their holdings of HIBS. Choreo LLC bought a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the 3rd quarter worth approximately $2,366,000. Prosperity Wealth Management Inc. raised its position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares by 213.9% during the third quarter. Prosperity Wealth Management Inc. now owns 249,733 shares of the company’s stock worth $1,621,000 after purchasing an additional 170,165 shares during the period. Virtu Financial LLC raised its position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares by 322.9% during the fourth quarter. Virtu Financial LLC now owns 168,005 shares of the company’s stock worth $847,000 after purchasing an additional 128,276 shares during the period. Tower Research Capital LLC TRC acquired a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the second quarter worth approximately $219,000. Finally, HRT Financial LP acquired a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the fourth quarter worth approximately $59,000.

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

The Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) is an exchange-traded fund that is based on the S&P 500 High Beta index. The fund provides 3x daily inverse exposure to a beta-weighted index of 100 highest-beta stocks in the S&P 500. HIBS was launched on Nov 7, 2019 and is managed by Direxion.