Direxion Daily S&P 500 Bear 3X Shares Sees Unusually High Options Volume (NYSEARCA:SPXS)

Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) was the target of unusually large options trading on Friday. Stock traders acquired 7,901 call options on the company. This is an increase of 35% compared to the typical daily volume of 5,843 call options.

Direxion Daily S&P 500 Bear 3X Shares Stock Up 5.2%

Direxion Daily S&P 500 Bear 3X Shares stock opened at $43.81 on Friday. Direxion Daily S&P 500 Bear 3X Shares has a 12 month low of $33.29 and a 12 month high of $106.70. The business has a 50 day moving average price of $36.25 and a two-hundred day moving average price of $36.52.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. MAI Capital Management bought a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the second quarter valued at about $40,000. PayPay Securities Corp increased its position in Direxion Daily S&P 500 Bear 3X Shares by 145.2% during the fourth quarter. PayPay Securities Corp now owns 3,008 shares of the company’s stock worth $107,000 after acquiring an additional 1,781 shares during the period. JPMorgan Chase & Co. bought a new position in Direxion Daily S&P 500 Bear 3X Shares during the second quarter worth about $119,000. BTG Pactual Asset Management US LLC acquired a new stake in Direxion Daily S&P 500 Bear 3X Shares in the 3rd quarter worth about $220,000. Finally, Kiker Wealth Management LLC acquired a new stake in Direxion Daily S&P 500 Bear 3X Shares in the 3rd quarter worth about $228,000.

About Direxion Daily S&P 500 Bear 3X Shares

Direxion Daily S&P 500 Bear 3X Shares ETF, formerly Direxion Daily S&P 500 Bear 3X Shares, seeks daily investment results of 300% of the inverse (or opposite) of the price performance of the S&P 500 Index. The S&P 500 Index is a capitalization-weighted index composed of 500 domestic common stocks. Standard & Poor’s selects the 500 stocks comprising the Index on the basis of market values and industry diversification. Most of the stocks in the Index are issued by the 500 largest companies, in terms of the aggregate market value of their outstanding stock, and generally are listed on the New York Stock Exchange.