Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Shares Scheduled to Reverse Split on Thursday, March 5th

Shares of Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) are going 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 closing bell on Wednesday, March 4th.

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

Shares of Direxion Daily S&P 500 High Beta Bear 3X Shares stock opened at $4.24 on Tuesday. The stock’s 50 day simple moving average is $4.54 and its 200-day simple moving average is $5.90. Direxion Daily S&P 500 High Beta Bear 3X Shares has a 1-year low of $3.87 and a 1-year high of $41.69.

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 stock. Group One Trading LLC purchased a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the 3rd quarter worth $28,000. StoneX Group Inc. acquired a new stake in Direxion Daily S&P 500 High Beta Bear 3X Shares during the fourth quarter worth about $55,000. HRT Financial LP acquired a new stake in Direxion Daily S&P 500 High Beta Bear 3X Shares during the fourth quarter worth about $59,000. Tower Research Capital LLC TRC purchased a new position in Direxion Daily S&P 500 High Beta Bear 3X Shares during the second quarter worth about $219,000. Finally, Prosperity Wealth Management Inc. boosted its holdings in Direxion Daily S&P 500 High Beta Bear 3X Shares by 213.9% in the 3rd quarter. Prosperity Wealth Management Inc. now owns 249,733 shares of the company’s stock valued at $1,621,000 after purchasing an additional 170,165 shares during the last quarter.

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.