Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Short Interest Update

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) was the recipient of a significant drop in short interest in March. As of March 31st, there was short interest totaling 7,241 shares, a drop of 65.7% from the March 15th total of 21,128 shares. Based on an average daily trading volume, of 131,373 shares, the short-interest ratio is presently 0.1 days. Currently, 1.2% of the company’s stock are sold short.

Direxion Daily S&P 500 High Beta Bear 3X Shares Stock Down 3.2%

Shares of Direxion Daily S&P 500 High Beta Bear 3X Shares stock traded down $1.20 during trading hours on Tuesday, reaching $36.16. The company’s stock had a trading volume of 37,257 shares, compared to its average volume of 351,296. Direxion Daily S&P 500 High Beta Bear 3X Shares has a one year low of $36.14 and a one year high of $273.60. The stock’s fifty day simple moving average is $44.27 and its two-hundred day simple moving average is $50.38.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Choreo LLC bought a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the third quarter valued at about $2,366,000. Prosperity Wealth Management Inc. lifted its position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares by 213.9% during the third quarter. Prosperity Wealth Management Inc. now owns 249,733 shares of the company’s stock valued at $1,621,000 after purchasing an additional 170,165 shares in the last quarter. Virtu Financial LLC lifted its position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares by 322.9% during the fourth quarter. Virtu Financial LLC now owns 168,005 shares of the company’s stock valued at $847,000 after purchasing an additional 128,276 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the second quarter valued at about $219,000. Finally, HRT Financial LP bought a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the fourth quarter valued at about $59,000.

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.