Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) Sees Large Growth in Short Interest

Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 1,350,714 shares, an increase of 57.6% from the December 31st total of 856,840 shares. Approximately 15.1% of the company’s shares are sold short. Based on an average daily trading volume, of 7,024,271 shares, the short-interest ratio is currently 0.2 days. Based on an average daily trading volume, of 7,024,271 shares, the short-interest ratio is currently 0.2 days. Approximately 15.1% of the company’s shares are sold short.

Direxion Daily S&P 500 Bear 3X Shares Trading Down 1.8%

SPXS stock traded down $0.61 during trading on Monday, hitting $33.60. 3,670,430 shares of the company traded hands, compared to its average volume of 8,000,495. The company has a 50-day moving average of $35.01 and a 200-day moving average of $38.30. Direxion Daily S&P 500 Bear 3X Shares has a 1 year low of $33.29 and a 1 year high of $106.70.

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

Several institutional investors have recently added to or reduced their stakes in SPXS. PayPay Securities Corp increased its position in shares of Direxion Daily S&P 500 Bear 3X Shares by 145.2% in the fourth quarter. PayPay Securities Corp now owns 3,008 shares of the company’s stock valued at $107,000 after acquiring an additional 1,781 shares during the period. BTG Pactual Asset Management US LLC bought a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the third quarter worth about $220,000. Kiker Wealth Management LLC purchased a new position in Direxion Daily S&P 500 Bear 3X Shares during the 3rd quarter valued at about $228,000. Global Retirement Partners LLC lifted its holdings in Direxion Daily S&P 500 Bear 3X Shares by 12,458.3% in the 3rd quarter. Global Retirement Partners LLC now owns 6,028 shares of the company’s stock worth $229,000 after buying an additional 5,980 shares during the period. Finally, Group One Trading LLC purchased a new position in shares of Direxion Daily S&P 500 Bear 3X Shares during the third quarter valued at approximately $310,000.

About Direxion Daily S&P 500 Bear 3X Shares

Direxion Daily S&P 500 Bear 3X Shares ETF, formerly Direxion Daily S&P 500 Bear 3X Shares, seeks daily investment results of 300% of the inverse (or opposite) of the price performance of the S&P 500 Index. The S&P 500 Index is a capitalization-weighted index composed of 500 domestic common stocks. Standard & Poor’s selects the 500 stocks comprising the Index on the basis of market values and industry diversification. Most of the stocks in the Index are issued by the 500 largest companies, in terms of the aggregate market value of their outstanding stock, and generally are listed on the New York Stock Exchange.