Stock Traders Purchase Large Volume of Put Options on Direxion Daily S&P 500 Bear 3X ETF (NYSEARCA:SPXS)

Direxion Daily S&P 500 Bear 3X ETF (NYSEARCA:SPXS) saw unusually large options trading on Friday. Traders bought 50,756 put options on the company. This is an increase of approximately 203% compared to the typical daily volume of 16,777 put options.

Hedge Funds Weigh In On Direxion Daily S&P 500 Bear 3X ETF

Several hedge funds have recently made changes to their positions in the business. Hamilton Wealth LLC acquired a new stake in Direxion Daily S&P 500 Bear 3X ETF during the first quarter valued at approximately $6,369,000. Group One Trading LLC bought a new position in shares of Direxion Daily S&P 500 Bear 3X ETF in the first quarter valued at $2,172,000. IMC Chicago LLC increased its holdings in shares of Direxion Daily S&P 500 Bear 3X ETF by 323.0% in the first quarter. IMC Chicago LLC now owns 1,069,475 shares of the company’s stock valued at $43,303,000 after buying an additional 816,668 shares in the last quarter. PayPay Securities Corp lifted its position in shares of Direxion Daily S&P 500 Bear 3X ETF by 242.3% during the 2nd quarter. PayPay Securities Corp now owns 4,836 shares of the company’s stock valued at $128,000 after acquiring an additional 3,423 shares during the last quarter. Finally, Royal Bank of Canada acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X ETF during the 1st quarter valued at $81,000.

Direxion Daily S&P 500 Bear 3X ETF Trading Down 1.9%

SPXS stock traded down $0.45 during trading hours on Friday, hitting $23.32. 8,004,381 shares of the stock traded hands, compared to its average volume of 13,247,566. The stock has a 50-day simple moving average of $24.54 and a 200 day simple moving average of $27.94. Direxion Daily S&P 500 Bear 3X ETF has a one year low of $23.04 and a one year high of $44.83.

About Direxion Daily S&P 500 Bear 3X ETF

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.