Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Trading Up 7.6% – What’s Next?

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) shares rose 7.6% on Monday . The company traded as high as $21.00 and last traded at $20.72. Approximately 188,622 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 272,045 shares. The stock had previously closed at $19.26.

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

The stock’s 50-day moving average price is $21.99 and its two-hundred day moving average price is $35.28.

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

Several institutional investors have recently bought and sold shares of HIBS. Group One Trading LLC purchased a new stake in Direxion Daily S&P 500 High Beta Bear 3X Shares in the third quarter worth $28,000. StoneX Group Inc. purchased a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the 4th quarter valued at $55,000. HRT Financial LP purchased a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the 4th quarter valued at $59,000. Tower Research Capital LLC TRC bought a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the 2nd quarter worth $219,000. Finally, Virtu Financial LLC grew its stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares by 322.9% during the 4th quarter. Virtu Financial LLC now owns 168,005 shares of the company’s stock worth $847,000 after acquiring an additional 128,276 shares during the period.

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.