Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS – Get Free Report) shares rose 0.5% during mid-day trading on Wednesday . The company traded as high as $26.65 and last traded at $25.87. Approximately 123,826 shares changed hands during trading, a decline of 63% from the average daily volume of 333,570 shares. The stock had previously closed at $25.75.
Direxion Daily S&P 500 High Beta Bear 3X Shares Stock Performance
The firm has a 50 day moving average price of $25.06 and a 200 day moving average price of $31.81.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the business. Group One Trading L.P. bought a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the third quarter valued at approximately $44,000. Tower Research Capital LLC TRC boosted its stake in Direxion Daily S&P 500 High Beta Bear 3X Shares by 457.7% in the third quarter. Tower Research Capital LLC TRC now owns 13,222 shares of the company’s stock valued at $614,000 after acquiring an additional 10,851 shares in the last quarter. Prosperity Wealth Management Inc. grew its holdings in Direxion Daily S&P 500 High Beta Bear 3X Shares by 24.7% in the fourth quarter. Prosperity Wealth Management Inc. now owns 28,033 shares of the company’s stock worth $760,000 after purchasing an additional 5,546 shares during the last quarter. Virtu Financial LLC increased its position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares by 137.5% during the fourth quarter. Virtu Financial LLC now owns 25,650 shares of the company’s stock worth $696,000 after purchasing an additional 14,850 shares in the last quarter. Finally, Simplex Trading LLC acquired a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the 4th quarter worth $174,000.
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.
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