Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) Short Interest Up 21.4% in December

Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 2,091,213 shares, a growth of 21.4% from the December 15th total of 1,722,639 shares. Currently, 9.6% of the shares of the company are sold short. Based on an average daily volume of 23,219,084 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 23,219,084 shares, the days-to-cover ratio is currently 0.1 days. Currently, 9.6% of the shares of the company are sold short.

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

NYSEARCA:SPDN traded up $0.01 during trading hours on Monday, reaching $9.33. The stock had a trading volume of 23,690,757 shares, compared to its average volume of 24,558,342. The stock has a 50 day simple moving average of $9.47 and a 200 day simple moving average of $9.73. Direxion Daily S&P 500 Bear 1x Shares has a 12-month low of $9.26 and a 12-month high of $13.35.

Institutional Investors Weigh In On Direxion Daily S&P 500 Bear 1x Shares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPDN. Arkadios Wealth Advisors boosted its position in Direxion Daily S&P 500 Bear 1x Shares by 125.4% during the third quarter. Arkadios Wealth Advisors now owns 894,034 shares of the company’s stock worth $8,592,000 after purchasing an additional 497,419 shares during the period. Bison Wealth LLC bought a new stake in shares of Direxion Daily S&P 500 Bear 1x Shares in the fourth quarter valued at approximately $4,236,000. Jump Financial LLC bought a new position in Direxion Daily S&P 500 Bear 1x Shares in the 2nd quarter worth approximately $3,463,000. HRT Financial LP purchased a new position in Direxion Daily S&P 500 Bear 1x Shares in the 2nd quarter valued at approximately $2,886,000. Finally, One Plus One Wealth Management LLC grew its stake in Direxion Daily S&P 500 Bear 1x Shares by 24.2% in the 4th quarter. One Plus One Wealth Management LLC now owns 1,032,539 shares of the company’s stock valued at $9,737,000 after buying an additional 201,080 shares in the last quarter.

About Direxion Daily S&P 500 Bear 1x Shares

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.