Short Interest in Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Drops By 39.5%

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) was the recipient of a significant decline in short interest in April. As of April 30th, there was short interest totaling 11,852 shares, a decline of 39.5% from the April 15th total of 19,603 shares. Approximately 1.9% of the company’s stock are short sold. Based on an average trading volume of 128,168 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of Direxion Daily S&P 500 High Beta Bear 3X Shares

Several institutional investors and hedge funds have recently made changes to their positions in the company. Choreo LLC bought a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the third quarter valued at about $2,366,000. Prosperity Wealth Management Inc. raised its holdings in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares by 213.9% in the third 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 in the last quarter. Virtu Financial LLC raised 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 acquiring an additional 128,276 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in Direxion Daily S&P 500 High Beta Bear 3X Shares in the second quarter valued at about $219,000. Finally, HRT Financial LP bought a new position in Direxion Daily S&P 500 High Beta Bear 3X Shares in the fourth quarter worth about $59,000.

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

Shares of HIBS stock traded up $1.53 on Monday, hitting $28.90. The stock had a trading volume of 457,604 shares, compared to its average volume of 296,955. The business has a 50 day moving average price of $38.33 and a 200 day moving average price of $45.34. Direxion Daily S&P 500 High Beta Bear 3X Shares has a one year low of $24.94 and a one year high of $142.20.

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.