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

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

Hedge Funds Weigh In On Direxion Daily S&P 500 Bear 1x Shares

Several institutional investors have recently made changes to their positions in the company. Rockport Wealth LLC purchased a new stake in shares of Direxion Daily S&P 500 Bear 1x Shares during the 4th quarter worth about $26,392,000. IMC Chicago LLC raised its stake in shares of Direxion Daily S&P 500 Bear 1x Shares by 306.9% during the 1st quarter. IMC Chicago LLC now owns 974,315 shares of the company’s stock worth $9,694,000 after buying an additional 734,884 shares during the period. Leuthold Group LLC lifted its position in shares of Direxion Daily S&P 500 Bear 1x Shares by 34.6% during the 4th quarter. Leuthold Group LLC now owns 2,340,534 shares of the company’s stock valued at $22,071,000 after buying an additional 601,711 shares in the last quarter. NewEdge Advisors LLC grew its stake in Direxion Daily S&P 500 Bear 1x Shares by 763,361.5% in the 4th quarter. NewEdge Advisors LLC now owns 496,250 shares of the company’s stock valued at $4,680,000 after acquiring an additional 496,185 shares during the period. Finally, Bison Wealth LLC acquired a new stake in Direxion Daily S&P 500 Bear 1x Shares in the 4th quarter valued at $4,236,000.

Direxion Daily S&P 500 Bear 1x Shares Price Performance

SPDN traded up $0.01 during midday trading on Wednesday, hitting $8.53. 25,663,938 shares of the company were exchanged, compared to its average volume of 52,335,559. The company’s 50 day simple moving average is $8.65 and its 200 day simple moving average is $9.06. Direxion Daily S&P 500 Bear 1x Shares has a 1-year low of $8.36 and a 1-year high of $10.28.

About Direxion Daily S&P 500 Bear 1x Shares

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.