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

Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) saw a significant drop in short interest in February. As of February 27th, there was short interest totaling 1,731,976 shares, a drop of 20.1% from the February 12th total of 2,168,571 shares. Approximately 18.9% of the shares of the company are short sold. Based on an average trading volume of 10,743,385 shares, the days-to-cover ratio is currently 0.2 days. Based on an average trading volume of 10,743,385 shares, the days-to-cover ratio is currently 0.2 days. Approximately 18.9% of the shares of the company are short sold.

Direxion Daily S&P 500 Bear 3X Shares Trading Up 1.8%

NYSEARCA:SPXS traded up $0.70 during trading hours on Friday, reaching $39.21. The company had a trading volume of 20,351,070 shares, compared to its average volume of 13,029,922. Direxion Daily S&P 500 Bear 3X Shares has a 1-year low of $33.29 and a 1-year high of $106.70. The business’s 50 day moving average price is $35.04 and its 200-day moving average price is $36.64.

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

Several large investors have recently made changes to their positions in the company. Poehling Capital Management INC. purchased a new stake in Direxion Daily S&P 500 Bear 3X Shares during the second quarter worth $155,000. JPMorgan Chase & Co. purchased a new position in Direxion Daily S&P 500 Bear 3X Shares in the second quarter valued at $119,000. MAI Capital Management acquired a new position in shares of Direxion Daily S&P 500 Bear 3X Shares in the second quarter worth about $40,000. Jump Financial LLC acquired a new position in shares of Direxion Daily S&P 500 Bear 3X Shares in the second quarter worth about $1,537,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Direxion Daily S&P 500 Bear 3X Shares by 174.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 107,891 shares of the company’s stock worth $506,000 after acquiring an additional 68,566 shares in the last quarter.

About Direxion Daily S&P 500 Bear 3X Shares

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.