Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Sees Significant Growth in Short Interest

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) saw a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 608,045 shares, a growth of 270.6% from the January 29th total of 164,070 shares. Approximately 13.6% of the company’s stock are short sold. Based on an average daily volume of 3,215,253 shares, the short-interest ratio is currently 0.2 days. Based on an average daily volume of 3,215,253 shares, the short-interest ratio is currently 0.2 days. Approximately 13.6% of the company’s stock are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Choreo LLC acquired a new position in Direxion Daily S&P 500 High Beta Bear 3X Shares in the 3rd quarter worth about $2,366,000. Prosperity Wealth Management Inc. grew its stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares by 213.9% in the 3rd quarter. Prosperity Wealth Management Inc. now owns 249,733 shares of the company’s stock valued at $1,621,000 after buying an additional 170,165 shares in the last quarter. 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 worth $847,000 after buying an additional 128,276 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in Direxion Daily S&P 500 High Beta Bear 3X Shares in the second quarter valued at approximately $219,000. Finally, HRT Financial LP bought a new position in Direxion Daily S&P 500 High Beta Bear 3X Shares in the 4th quarter worth $59,000.

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

Shares of HIBS stock traded up $0.18 during trading on Thursday, hitting $4.16. 623,198 shares of the company were exchanged, compared to its average volume of 3,423,605. The business’s 50-day simple moving average is $4.44 and its 200 day simple moving average is $5.71. Direxion Daily S&P 500 High Beta Bear 3X Shares has a twelve month low of $3.87 and a twelve month high of $41.69.

Direxion Daily S&P 500 High Beta Bear 3X Shares shares are going to reverse split on Thursday, March 5th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, March 4th.

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.