Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Sees Significant Increase in Short Interest

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totaling 19,603 shares, an increase of 170.7% from the March 31st total of 7,241 shares. Currently, 3.1% of the company’s stock are sold short. Based on an average daily trading volume, of 132,578 shares, the days-to-cover ratio is currently 0.1 days.

Direxion Daily S&P 500 High Beta Bear 3X Shares Price Performance

Shares of Direxion Daily S&P 500 High Beta Bear 3X Shares stock opened at $29.83 on Friday. The business has a 50-day moving average price of $42.29 and a 200 day moving average price of $48.55. Direxion Daily S&P 500 High Beta Bear 3X Shares has a fifty-two week low of $29.67 and a fifty-two week high of $202.00.

Institutional Trading of Direxion Daily S&P 500 High Beta Bear 3X Shares

Hedge funds and other institutional investors have recently modified their holdings of the business. Choreo LLC acquired a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the third quarter worth $2,366,000. Virtu Financial LLC raised its holdings in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares by 322.9% during the fourth quarter. Virtu Financial LLC now owns 168,005 shares of the company’s stock worth $847,000 after acquiring an additional 128,276 shares in the last quarter. Group One Trading LLC purchased a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the third quarter worth $28,000. Prosperity Wealth Management Inc. raised its holdings in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares by 213.9% during the third quarter. Prosperity Wealth Management Inc. now owns 249,733 shares of the company’s stock worth $1,621,000 after acquiring an additional 170,165 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the second quarter worth $219,000.

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.