Tower Research Capital LLC TRC Takes Position in Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN)

Tower Research Capital LLC TRC purchased a new stake in Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 42,398 shares of the company’s stock, valued at approximately $467,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of SPDN. Synergy Asset Management LLC bought a new position in Direxion Daily S&P 500 Bear 1x Shares during the 4th quarter worth about $47,000. Kovack Advisors Inc. purchased a new stake in shares of Direxion Daily S&P 500 Bear 1x Shares in the 4th quarter worth approximately $134,000. Townsquare Capital LLC boosted its stake in shares of Direxion Daily S&P 500 Bear 1x Shares by 34.7% during the fourth quarter. Townsquare Capital LLC now owns 18,113 shares of the company’s stock valued at $199,000 after purchasing an additional 4,670 shares in the last quarter. SwitchPoint Financial Planning LLC purchased a new position in Direxion Daily S&P 500 Bear 1x Shares during the fourth quarter valued at approximately $213,000. Finally, Orion Portfolio Solutions LLC bought a new position in Direxion Daily S&P 500 Bear 1x Shares in the fourth quarter worth approximately $393,000.

Direxion Daily S&P 500 Bear 1x Shares Stock Down 0.5 %

Shares of NYSEARCA SPDN opened at $11.54 on Wednesday. Direxion Daily S&P 500 Bear 1x Shares has a 12-month low of $10.60 and a 12-month high of $13.36. The stock’s fifty day simple moving average is $11.69 and its two-hundred day simple moving average is $11.17.

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.