Short Interest in Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Drops By 32.0%

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) was the recipient of a large drop in short interest in December. As of December 31st, there was short interest totaling 129,421 shares, a drop of 32.0% from the December 15th total of 190,397 shares. Currently, 2.8% of the company’s shares are short sold. Based on an average daily volume of 980,841 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 980,841 shares, the days-to-cover ratio is currently 0.1 days. Currently, 2.8% of the company’s shares are short sold.

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

NYSEARCA HIBS traded up $0.07 on Friday, hitting $4.34. 1,060,167 shares of the company were exchanged, compared to its average volume of 2,089,106. Direxion Daily S&P 500 High Beta Bear 3X Shares has a twelve month low of $4.16 and a twelve month high of $41.69. The company’s 50 day moving average price is $5.22 and its 200-day moving average price is $6.52.

Institutional Investors Weigh In On Direxion Daily S&P 500 High Beta Bear 3X Shares

Several hedge funds have recently made changes to their positions in the company. Prosperity Wealth Management Inc. boosted its stake in 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 worth $1,621,000 after purchasing an additional 170,165 shares during the period. Group One Trading LLC purchased a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the third quarter valued at $28,000. Choreo LLC acquired a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the third quarter worth $2,366,000. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the second quarter valued at $219,000.

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.