Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) Shares Gap Up – Time to Buy?

Shares of Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) gapped up before the market opened on Friday . The stock had previously closed at $7.92, but opened at $8.54. Direxion Daily S&P 500 Bear 3X Shares shares last traded at $8.63, with a volume of 16,996,742 shares traded.

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

The firm’s 50 day moving average price is $6.46 and its two-hundred day moving average price is $6.32.

Direxion Daily S&P 500 Bear 3X Shares Cuts Dividend

The business also recently declared a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were issued a $0.0842 dividend. The ex-dividend date of this dividend was Tuesday, March 25th.

Hedge Funds Weigh In On Direxion Daily S&P 500 Bear 3X Shares

Several institutional investors have recently made changes to their positions in SPXS. Two Sigma Securities LLC increased its position in Direxion Daily S&P 500 Bear 3X Shares by 3.9% in the 4th quarter. Two Sigma Securities LLC now owns 52,471 shares of the company’s stock valued at $330,000 after buying an additional 1,968 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Direxion Daily S&P 500 Bear 3X Shares by 491.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 73,700 shares of the company’s stock valued at $463,000 after acquiring an additional 61,232 shares during the period. XTX Topco Ltd increased its holdings in shares of Direxion Daily S&P 500 Bear 3X Shares by 21.7% during the fourth quarter. XTX Topco Ltd now owns 18,499 shares of the company’s stock valued at $116,000 after acquiring an additional 3,298 shares in the last quarter. Rathbones Group PLC acquired a new position in shares of Direxion Daily S&P 500 Bear 3X Shares during the fourth quarter worth approximately $98,000. Finally, Waterloo Capital L.P. raised its position in shares of Direxion Daily S&P 500 Bear 3X Shares by 15.6% during the fourth quarter. Waterloo Capital L.P. now owns 18,500 shares of the company’s stock worth $116,000 after purchasing an additional 2,500 shares during the period.

Direxion Daily S&P 500 Bear 3X Shares Company Profile

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.