NewEdge Advisors LLC Buys 345,450 Shares of Direxion Daily S&P 500 Bear 1x Shares $SPDN

NewEdge Advisors LLC raised its stake in Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) by 69.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 841,700 shares of the company’s stock after acquiring an additional 345,450 shares during the quarter. NewEdge Advisors LLC’s holdings in Direxion Daily S&P 500 Bear 1x Shares were worth $8,375,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Verus Capital Partners LLC raised its holdings in shares of Direxion Daily S&P 500 Bear 1x Shares by 119.0% in the 1st quarter. Verus Capital Partners LLC now owns 142,931 shares of the company’s stock worth $1,422,000 after purchasing an additional 77,678 shares during the period. January Capital Advisors LLC bought a new position in Direxion Daily S&P 500 Bear 1x Shares during the first quarter valued at $1,977,000. Strait & Sound Wealth Management LLC bought a new position in Direxion Daily S&P 500 Bear 1x Shares during the first quarter valued at $100,000. Waverly Advisors LLC purchased a new stake in Direxion Daily S&P 500 Bear 1x Shares in the first quarter worth $136,000. Finally, Rockport Wealth LLC increased its position in Direxion Daily S&P 500 Bear 1x Shares by 3.8% in the first quarter. Rockport Wealth LLC now owns 2,904,522 shares of the company’s stock worth $28,911,000 after buying an additional 105,788 shares during the last quarter.

Direxion Daily S&P 500 Bear 1x Shares Stock Performance

Shares of SPDN opened at $8.43 on Monday. Direxion Daily S&P 500 Bear 1x Shares has a 1 year low of $8.38 and a 1 year high of $10.28. The stock’s fifty day moving average price is $8.71 and its two-hundred day moving average price is $9.13.

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.