Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) Stock Price Down 1.2% – Here’s Why

Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN)’s share price traded down 1.2% during trading on Monday . The company traded as low as $9.80 and last traded at $9.91. 136,445,828 shares traded hands during trading, an increase of 160% from the average session volume of 52,454,480 shares. The stock had previously closed at $10.03.

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

The firm has a 50 day moving average of $9.52 and a 200-day moving average of $9.54.

Hedge Funds Weigh In On Direxion Daily S&P 500 Bear 1x Shares

Several large investors have recently modified their holdings of the business. Bison Wealth LLC bought a new position in shares of Direxion Daily S&P 500 Bear 1x Shares during the 4th quarter worth about $4,236,000. XTX Topco Ltd acquired a new position in Direxion Daily S&P 500 Bear 1x Shares during the 2nd quarter worth approximately $181,000. Choreo LLC raised its stake in Direxion Daily S&P 500 Bear 1x Shares by 201.1% during the 2nd quarter. Choreo LLC now owns 100,741 shares of the company’s stock worth $1,051,000 after buying an additional 67,284 shares during the period. Jump Financial LLC bought a new position in Direxion Daily S&P 500 Bear 1x Shares in the second quarter worth approximately $3,463,000. Finally, IHT Wealth Management LLC bought a new position in Direxion Daily S&P 500 Bear 1x Shares in the second quarter worth approximately $159,000.

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.