Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS – Get Free Report) was the recipient of a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 54,488 shares, an increase of 94.7% from the July 30th total of 27,979 shares. Currently, 5.8% of the shares of the company are sold short. Based on an average daily volume of 134,662 shares, the short-interest ratio is presently 0.4 days.
Institutional Investors Weigh In On Direxion Daily S&P 500 High Beta Bear 3X Shares
Institutional investors have recently made changes to their positions in the stock. Prosperity Wealth Management Inc. lifted its stake 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 purchasing an additional 170,165 shares during the period. Virtu Financial LLC increased its holdings in 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 buying 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. HRT Financial LP acquired a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the 4th quarter valued at approximately $59,000. Finally, StoneX Group Inc. acquired a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the 4th quarter valued at approximately $55,000.
Direxion Daily S&P 500 High Beta Bear 3X Shares Stock Performance
NYSEARCA HIBS traded up $1.25 on Friday, hitting $19.56. 186,618 shares of the company’s stock were exchanged, compared to its average volume of 259,275. The firm’s 50-day moving average price is $19.97 and its two-hundred day moving average price is $29.69. Direxion Daily S&P 500 High Beta Bear 3X Shares has a fifty-two week low of $17.12 and a fifty-two week high of $80.70.
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.
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