Short Interest in Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) Expands By 212.1%

Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) saw a large increase in short interest during the month of January. As of January 30th, there was short interest totaling 1,345,046 shares, an increase of 212.1% from the January 15th total of 430,964 shares. Based on an average daily trading volume, of 24,023,588 shares, the short-interest ratio is presently 0.1 days. Approximately 6.1% of the shares of the stock are short sold. Approximately 6.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 24,023,588 shares, the short-interest ratio is presently 0.1 days.

Direxion Daily S&P 500 Bear 1x Shares Trading Down 0.1%

NYSEARCA:SPDN opened at $9.35 on Thursday. The stock has a 50 day moving average of $9.39 and a two-hundred day moving average of $9.63. Direxion Daily S&P 500 Bear 1x Shares has a 12 month low of $9.26 and a 12 month high of $13.35.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bison Wealth LLC purchased a new stake in shares of Direxion Daily S&P 500 Bear 1x Shares during the fourth quarter worth $4,236,000. Cushing Capital Partners LLC boosted its position in Direxion Daily S&P 500 Bear 1x Shares by 3.4% during the second quarter. Cushing Capital Partners LLC now owns 46,255 shares of the company’s stock worth $483,000 after acquiring an additional 1,538 shares during the last quarter. Arkadios Wealth Advisors purchased a new stake in Direxion Daily S&P 500 Bear 1x Shares during the 2nd quarter valued at about $4,085,000. Intellectus Partners LLC acquired a new stake in Direxion Daily S&P 500 Bear 1x Shares in the 2nd quarter valued at about $157,000. Finally, Simplex Trading LLC lifted its stake in Direxion Daily S&P 500 Bear 1x Shares by 139.5% in the 2nd quarter. Simplex Trading LLC now owns 2,635 shares of the company’s stock worth $27,000 after purchasing an additional 1,535 shares in the last quarter.

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.