Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Short Interest Down 36.5% in June

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) was the target of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 19,901 shares, a decrease of 36.5% from the June 15th total of 31,338 shares. Approximately 2.0% of the shares of the company are sold short. Based on an average trading volume of 180,586 shares, the days-to-cover ratio is presently 0.1 days.

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 traded down $0.02 during trading on Friday, reaching $22.02. The company’s stock had a trading volume of 356,649 shares, compared to its average volume of 270,510. The company has a 50-day moving average price of $21.78 and a two-hundred day moving average price of $34.92. Direxion Daily S&P 500 High Beta Bear 3X Shares has a fifty-two week low of $17.12 and a fifty-two week high of $89.90.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HIBS. Prosperity Wealth Management Inc. grew 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 buying an additional 170,165 shares during the last quarter. Virtu Financial LLC raised its stake in Direxion Daily S&P 500 High Beta Bear 3X Shares by 322.9% during the 4th quarter. Virtu Financial LLC now owns 168,005 shares of the company’s stock valued at $847,000 after acquiring an additional 128,276 shares during the last quarter. 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 approximately $219,000. HRT Financial LP acquired a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the fourth quarter valued at approximately $59,000. Finally, StoneX Group Inc. acquired a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the fourth quarter worth $55,000.

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.