Short Interest in Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Decreases By 13.5%

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) was the target of a significant decrease in short interest in January. As of January 15th, there was short interest totaling 111,888 shares, a decrease of 13.5% from the December 31st total of 129,421 shares. Currently, 2.4% of the company’s stock are short sold. Based on an average trading volume of 2,192,032 shares, the days-to-cover ratio is currently 0.1 days. Based on an average trading volume of 2,192,032 shares, the days-to-cover ratio is currently 0.1 days. Currently, 2.4% of the company’s stock are short sold.

Direxion Daily S&P 500 High Beta Bear 3X Shares Trading Up 0.2%

HIBS traded up $0.01 during midday trading on Tuesday, hitting $4.32. The company had a trading volume of 705,111 shares, compared to its average volume of 2,115,451. The stock’s 50 day moving average price is $4.79 and its 200 day moving average price is $6.16. Direxion Daily S&P 500 High Beta Bear 3X Shares has a 52 week low of $4.12 and a 52 week high of $41.69.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Choreo LLC acquired a new stake in Direxion Daily S&P 500 High Beta Bear 3X Shares in the third quarter valued at approximately $2,366,000. Prosperity Wealth Management Inc. lifted its holdings 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 worth $1,621,000 after purchasing an additional 170,165 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in Direxion Daily S&P 500 High Beta Bear 3X Shares in the 2nd quarter valued at $219,000. Finally, Group One Trading LLC acquired a new stake in Direxion Daily S&P 500 High Beta Bear 3X Shares in the 3rd quarter valued at $28,000.

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

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.