Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) Short Interest Up 401.6% in December

Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totaling 1,722,639 shares, a growth of 401.6% from the November 30th total of 343,396 shares. Approximately 13.6% of the shares of the stock are sold short. Based on an average trading volume of 25,898,045 shares, the days-to-cover ratio is presently 0.1 days. Based on an average trading volume of 25,898,045 shares, the days-to-cover ratio is presently 0.1 days. Approximately 13.6% of the shares of the stock are sold short.

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

Several hedge funds have recently made changes to their positions in SPDN. Simplex Trading LLC grew its position in Direxion Daily S&P 500 Bear 1x Shares by 139.5% in the second quarter. Simplex Trading LLC now owns 2,635 shares of the company’s stock worth $27,000 after acquiring an additional 1,535 shares in the last quarter. Belmont Capital LLC bought a new stake in shares of Direxion Daily S&P 500 Bear 1x Shares in the 1st quarter valued at approximately $38,000. SBI Securities Co. Ltd. boosted its holdings in shares of Direxion Daily S&P 500 Bear 1x Shares by 90.4% in the 2nd quarter. SBI Securities Co. Ltd. now owns 8,516 shares of the company’s stock worth $88,000 after purchasing an additional 4,044 shares during the period. Intellectus Partners LLC bought a new position in shares of Direxion Daily S&P 500 Bear 1x Shares during the 2nd quarter valued at approximately $157,000. Finally, IHT Wealth Management LLC bought a new position in shares of Direxion Daily S&P 500 Bear 1x Shares during the 2nd quarter valued at approximately $159,000.

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

Shares of SPDN opened at $9.30 on Thursday. The company’s fifty day moving average is $9.53 and its 200 day moving average is $9.89. Direxion Daily S&P 500 Bear 1x Shares has a fifty-two week low of $9.30 and a fifty-two week high of $13.35.

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.