Traders Buy Large Volume of Direxion Daily S&P 500 Bear 3X ETF Put Options (NYSEARCA:SPXS)

Direxion Daily S&P 500 Bear 3X ETF (NYSEARCA:SPXS) was the target of unusually large options trading on Thursday. Traders bought 31,375 put options on the stock. This represents an increase of approximately 94% compared to the average daily volume of 16,155 put options.

Direxion Daily S&P 500 Bear 3X ETF Stock Down 0.1%

Shares of SPXS stock opened at $25.18 on Friday. The stock’s fifty day simple moving average is $25.34 and its 200 day simple moving average is $29.34. Direxion Daily S&P 500 Bear 3X ETF has a one year low of $23.40 and a one year high of $44.83.

Institutional Investors Weigh In On Direxion Daily S&P 500 Bear 3X ETF

Institutional investors and hedge funds have recently made changes to their positions in the company. Hamilton Wealth LLC acquired a new position in Direxion Daily S&P 500 Bear 3X ETF in the first quarter valued at about $6,369,000. Group One Trading LLC acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X ETF during the first quarter worth approximately $2,172,000. IMC Chicago LLC increased its holdings in shares of Direxion Daily S&P 500 Bear 3X ETF by 323.0% during the first quarter. IMC Chicago LLC now owns 1,069,475 shares of the company’s stock worth $43,303,000 after buying an additional 816,668 shares in the last quarter. PayPay Securities Corp raised its stake in shares of Direxion Daily S&P 500 Bear 3X ETF by 242.3% in the second quarter. PayPay Securities Corp now owns 4,836 shares of the company’s stock valued at $128,000 after acquiring an additional 3,423 shares during the last quarter. Finally, Royal Bank of Canada bought a new position in shares of Direxion Daily S&P 500 Bear 3X ETF in the first quarter valued at approximately $81,000.

Direxion Daily S&P 500 Bear 3X ETF 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. Most of the stocks in the Index are issued by the 500 largest companies, in terms of the aggregate market value of their outstanding stock, and generally are listed on the New York Stock Exchange.