Short Interest in Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) Expands By 134.9%

Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) was the recipient of a significant growth in short interest in March. As of March 13th, there was short interest totaling 2,082,842 shares, a growth of 134.9% from the February 26th total of 886,657 shares. Based on an average daily volume of 100,008,662 shares, the short-interest ratio is currently 0.0 days. Currently, 9.4% of the company’s shares are sold short.

Direxion Daily S&P 500 Bear 1x Shares Trading Up 1.8%

SPDN traded up $0.18 during mid-day trading on Friday, hitting $10.20. The stock had a trading volume of 125,430,407 shares, compared to its average volume of 57,468,059. The stock’s fifty day simple moving average is $9.55 and its 200-day simple moving average is $9.55. Direxion Daily S&P 500 Bear 1x Shares has a 1-year low of $9.26 and a 1-year high of $13.35.

Institutional Trading of Direxion Daily S&P 500 Bear 1x Shares

Several hedge funds have recently added to or reduced their stakes in SPDN. Rockport Wealth LLC acquired a new position in Direxion Daily S&P 500 Bear 1x Shares in the fourth quarter valued at about $26,392,000. Leuthold Group LLC raised its position in shares of Direxion Daily S&P 500 Bear 1x Shares by 34.6% during the fourth quarter. Leuthold Group LLC now owns 2,340,534 shares of the company’s stock worth $22,071,000 after purchasing an additional 601,711 shares during the period. Arkadios Wealth Advisors lifted its holdings in shares of Direxion Daily S&P 500 Bear 1x Shares by 125.4% during the 3rd quarter. Arkadios Wealth Advisors now owns 894,034 shares of the company’s stock valued at $8,592,000 after purchasing an additional 497,419 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Direxion Daily S&P 500 Bear 1x Shares by 763,361.5% during the 4th quarter. NewEdge Advisors LLC now owns 496,250 shares of the company’s stock valued at $4,680,000 after purchasing an additional 496,185 shares in the last quarter. Finally, Bison Wealth LLC acquired a new position in shares of Direxion Daily S&P 500 Bear 1x Shares in the 4th quarter valued at approximately $4,236,000.

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.