Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN – Get Free Report) was the recipient of a significant decline in short interest during the month of July. As of July 15th, there was short interest totaling 969,000 shares, a decline of 57.1% from the June 30th total of 2,258,856 shares. Based on an average daily volume of 34,843,442 shares, the short-interest ratio is currently 0.0 days. Currently, 3.7% of the shares of the company are sold short.
Hedge Funds Weigh In On Direxion Daily S&P 500 Bear 1x Shares
Hedge funds and other institutional investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC bought a new stake in shares of Direxion Daily S&P 500 Bear 1x Shares in the fourth quarter worth $49,000. Strait & Sound Wealth Management LLC purchased a new stake in Direxion Daily S&P 500 Bear 1x Shares during the first quarter valued at $100,000. Waverly Advisors LLC bought a new position in Direxion Daily S&P 500 Bear 1x Shares in the first quarter valued at about $136,000. IHT Wealth Management LLC bought a new position in Direxion Daily S&P 500 Bear 1x Shares in the second quarter valued at about $159,000. Finally, Moors & Cabot Inc. boosted its position in Direxion Daily S&P 500 Bear 1x Shares by 27.0% in the third quarter. Moors & Cabot Inc. now owns 17,132 shares of the company’s stock worth $165,000 after purchasing an additional 3,647 shares during the last quarter.
Direxion Daily S&P 500 Bear 1x Shares Stock Performance
Shares of SPDN stock opened at $8.80 on Monday. Direxion Daily S&P 500 Bear 1x Shares has a 12-month low of $8.58 and a 12-month high of $10.35. The firm’s 50 day moving average is $8.73 and its 200 day moving average is $9.18.
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.
Featured Stories
- Five stocks we like better than Direxion Daily S&P 500 Bear 1x Shares
- RTX and Lockheed Earnings: Can Strong Guidance Reset the Defense Trade?
- These 4 Earnings Reports Expose the Market’s Growing Economic Divide
- Broadcom May Be the Biggest Winner From Alphabet’s Earnings
- Volatility Is Back and These 3 Market Tollbooths Are Best Positioned to Profit
Receive News & Ratings for Direxion Daily S&P 500 Bear 1x Shares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Direxion Daily S&P 500 Bear 1x Shares and related companies with MarketBeat.com's FREE daily email newsletter.
