Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Short Interest Update

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) was the recipient of a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 164,070 shares, a growth of 46.6% from the January 15th total of 111,888 shares. Approximately 3.7% of the shares of the company are short sold. Based on an average trading volume of 2,218,632 shares, the days-to-cover ratio is presently 0.1 days. Based on an average trading volume of 2,218,632 shares, the days-to-cover ratio is presently 0.1 days. Approximately 3.7% of the shares of the company are short sold.

Direxion Daily S&P 500 High Beta Bear 3X Shares Trading Down 3.0%

Shares of HIBS stock opened at $4.24 on Friday. Direxion Daily S&P 500 High Beta Bear 3X Shares has a 12-month low of $3.87 and a 12-month high of $41.69. The business’s 50 day moving average is $4.56 and its two-hundred day moving average is $5.94.

Direxion Daily S&P 500 High Beta Bear 3X Shares shares are scheduled to reverse split before the market opens on Thursday, March 5th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, March 4th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Group One Trading LLC acquired a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the third quarter valued at $28,000. StoneX Group Inc. acquired a new stake in Direxion Daily S&P 500 High Beta Bear 3X Shares in the 4th quarter valued at about $55,000. HRT Financial LP purchased a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the 4th quarter valued at about $59,000. Tower Research Capital LLC TRC purchased a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the 2nd quarter valued at about $219,000. Finally, Prosperity Wealth Management Inc. grew its position 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 buying an additional 170,165 shares in the last quarter.

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

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.