Short Interest in Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) Drops By 87.2%

Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) saw a large decline in short interest in August. As of August 14th, there was short interest totaling 158,662 shares, a decline of 87.2% from the July 30th total of 1,243,166 shares. Based on an average daily volume of 33,264,453 shares, the days-to-cover ratio is presently 0.0 days. Currently, 0.6% of the shares of the company are short sold.

Direxion Daily S&P 500 Bear 1x Shares Stock Performance

NYSEARCA SPDN traded up $0.02 on Friday, hitting $8.50. 42,616,633 shares of the company’s stock were exchanged, compared to its average volume of 52,188,695. The firm’s 50-day moving average price is $8.63 and its two-hundred day moving average price is $9.04. Direxion Daily S&P 500 Bear 1x Shares has a fifty-two week low of $8.36 and a fifty-two week high of $10.28.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC purchased a new stake in shares of Direxion Daily S&P 500 Bear 1x Shares during the 4th quarter worth $49,000. Strait & Sound Wealth Management LLC purchased a new stake in Direxion Daily S&P 500 Bear 1x Shares during the first quarter worth about $100,000. Waverly Advisors LLC purchased a new stake in Direxion Daily S&P 500 Bear 1x Shares during the first quarter worth about $136,000. IHT Wealth Management LLC acquired a new position in Direxion Daily S&P 500 Bear 1x Shares during the second quarter worth about $159,000. Finally, Moors & Cabot Inc. increased its holdings in Direxion Daily S&P 500 Bear 1x Shares by 27.0% in the third quarter. Moors & Cabot Inc. now owns 17,132 shares of the company’s stock valued at $165,000 after buying an additional 3,647 shares in the last quarter.

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.