Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) Short Interest Up 154.0% in May

Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) was the target of a large growth in short interest in the month of May. As of May 29th, there was short interest totaling 2,221,577 shares, a growth of 154.0% from the May 14th total of 874,683 shares. Based on an average daily volume of 54,851,031 shares, the days-to-cover ratio is currently 0.0 days. Currently, 9.0% of the company’s shares are sold short.

Institutional Investors Weigh In On Direxion Daily S&P 500 Bear 1x Shares

A number of institutional investors have recently bought and sold shares of SPDN. Rockport Wealth LLC acquired a new stake in Direxion Daily S&P 500 Bear 1x Shares during the 4th quarter worth about $26,392,000. IMC Chicago LLC boosted its position in Direxion Daily S&P 500 Bear 1x Shares by 306.9% during the 1st quarter. IMC Chicago LLC now owns 974,315 shares of the company’s stock worth $9,694,000 after acquiring an additional 734,884 shares during the period. Leuthold Group LLC boosted its position in Direxion Daily S&P 500 Bear 1x Shares by 34.6% during the 4th quarter. Leuthold Group LLC now owns 2,340,534 shares of the company’s stock worth $22,071,000 after acquiring an additional 601,711 shares during the period. NewEdge Advisors LLC boosted its position in Direxion Daily S&P 500 Bear 1x Shares by 763,361.5% during the 4th quarter. NewEdge Advisors LLC now owns 496,250 shares of the company’s stock worth $4,680,000 after acquiring an additional 496,185 shares during the period. Finally, Bison Wealth LLC acquired a new stake in Direxion Daily S&P 500 Bear 1x Shares during the 4th quarter worth about $4,236,000.

Direxion Daily S&P 500 Bear 1x Shares Trading Down 0.5%

Shares of NYSEARCA:SPDN traded down $0.04 during midday trading on Friday, reaching $8.81. The company had a trading volume of 95,588,652 shares, compared to its average volume of 58,654,066. Direxion Daily S&P 500 Bear 1x Shares has a 1-year low of $8.58 and a 1-year high of $10.88. The company has a fifty day simple moving average of $9.02 and a two-hundred day simple moving average of $9.34.

Direxion Daily S&P 500 Bear 1x Shares Company Profile

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.