Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) Stock Price Down 0.5% – Here’s What Happened

Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) shares dropped 0.5% during trading on Thursday . The stock traded as low as $27.05 and last traded at $27.30. Approximately 18,694,130 shares traded hands during mid-day trading, an increase of 31% from the average daily volume of 14,290,440 shares. The stock had previously closed at $27.45.

Direxion Daily S&P 500 Bear 3X Shares Stock Down 0.5%

The firm has a fifty day simple moving average of $34.15 and a 200 day simple moving average of $35.01.

Institutional Trading of Direxion Daily S&P 500 Bear 3X Shares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hamilton Wealth LLC purchased a new stake in Direxion Daily S&P 500 Bear 3X Shares in the 1st quarter valued at about $19,108,000. Guardian Partners Inc. purchased a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the 1st quarter worth about $203,000. Royal Bank of Canada purchased a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the 1st quarter worth about $81,000. Group One Trading LLC purchased a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the 1st quarter worth about $2,172,000. Finally, IMC Chicago LLC grew its holdings in shares of Direxion Daily S&P 500 Bear 3X Shares by 323.0% during the 1st quarter. IMC Chicago LLC now owns 1,069,475 shares of the company’s stock worth $43,303,000 after purchasing an additional 816,668 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. 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.