Short Interest in Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Grows By 279.4%

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) saw a large growth in short interest during the month of July. As of July 15th, there was short interest totaling 75,508 shares, a growth of 279.4% from the June 30th total of 19,901 shares. Based on an average trading volume of 166,895 shares, the short-interest ratio is presently 0.5 days. Approximately 6.9% of the shares of the stock are sold short.

Direxion Daily S&P 500 High Beta Bear 3X Shares Stock Up 4.3%

HIBS stock traded up $0.94 during mid-day trading on Friday, reaching $22.65. 330,801 shares of the stock traded hands, compared to its average volume of 269,759. Direxion Daily S&P 500 High Beta Bear 3X Shares has a 52 week low of $17.12 and a 52 week high of $89.90. The business has a 50-day moving average of $21.30 and a two-hundred day moving average of $33.88.

Institutional Investors Weigh In On Direxion Daily S&P 500 High Beta Bear 3X Shares

Several large investors have recently made changes to their positions in HIBS. Virtu Financial LLC increased its holdings in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares by 322.9% in the fourth quarter. Virtu Financial LLC now owns 168,005 shares of the company’s stock valued at $847,000 after purchasing an additional 128,276 shares in the last quarter. HRT Financial LP bought a new position in Direxion Daily S&P 500 High Beta Bear 3X Shares during the fourth quarter worth about $59,000. StoneX Group Inc. acquired a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the 4th quarter worth about $55,000. Prosperity Wealth Management Inc. increased its stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares by 213.9% in the 3rd quarter. Prosperity Wealth Management Inc. now owns 249,733 shares of the company’s stock valued at $1,621,000 after acquiring an additional 170,165 shares during the last quarter. Finally, Tower Research Capital LLC TRC bought a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the 2nd quarter valued at about $219,000.

About Direxion Daily S&P 500 High Beta Bear 3X Shares

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.