Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) Short Interest Update

Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 6,188,874 shares, an increase of 178.6% from the May 31st total of 2,221,577 shares. Based on an average trading volume of 63,981,891 shares, the days-to-cover ratio is presently 0.1 days. Currently, 25.2% of the shares of the company are sold short.

Institutional Trading of Direxion Daily S&P 500 Bear 1x Shares

A number of institutional investors have recently bought and sold shares of SPDN. Moors & Cabot Inc. grew its holdings in Direxion Daily S&P 500 Bear 1x Shares by 8.9% during 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 during the last quarter. Advisory Services Network LLC grew its position in Direxion Daily S&P 500 Bear 1x Shares by 5.2% during the third 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 in the last quarter. Steward Partners Investment Advisory LLC bought a new position in Direxion Daily S&P 500 Bear 1x Shares in the fourth quarter worth $49,000. A. D. Beadell Investment Counsel Inc. increased its stake in Direxion Daily S&P 500 Bear 1x Shares by 60.0% in the first quarter. A. D. Beadell Investment Counsel Inc. now owns 20,000 shares of the company’s stock valued at $199,000 after acquiring an additional 7,500 shares during the period. Finally, Lifeworks Advisors LLC grew its position in Direxion Daily S&P 500 Bear 1x Shares by 55.2% in the first quarter. Lifeworks Advisors LLC now owns 24,469 shares of the company’s stock valued at $243,000 after acquiring an additional 8,705 shares during the period.

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

SPDN traded up $0.04 during trading on Friday, reaching $8.87. The stock had a trading volume of 59,192,086 shares, compared to its average volume of 57,721,496. The stock has a 50 day moving average of $8.85 and a two-hundred day moving average of $9.29. Direxion Daily S&P 500 Bear 1x Shares has a 1-year low of $8.58 and a 1-year high of $10.42.

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.