Short Interest in Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Drops By 39.5%

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) was the recipient of a significant decline in short interest during the month of April. As of April 30th, there was short interest totaling 11,852 shares, a decline of 39.5% from the April 15th total of 19,603 shares. Currently, 1.9% of the company’s stock are sold short. Based on an average trading volume of 128,168 shares, the days-to-cover ratio is presently 0.1 days.

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

Several institutional investors and hedge funds have recently bought and sold shares of HIBS. Tower Research Capital LLC TRC bought a new stake in Direxion Daily S&P 500 High Beta Bear 3X Shares in the 2nd quarter valued at $219,000. Choreo LLC acquired a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the 3rd quarter valued at $2,366,000. Group One Trading LLC acquired a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the 3rd quarter valued at $28,000. Prosperity Wealth Management Inc. lifted its position in Direxion Daily S&P 500 High Beta Bear 3X Shares by 213.9% during the 3rd quarter. Prosperity Wealth Management Inc. now owns 249,733 shares of the company’s stock worth $1,621,000 after buying an additional 170,165 shares in the last quarter. Finally, StoneX Group Inc. acquired a new position in Direxion Daily S&P 500 High Beta Bear 3X Shares during the 4th quarter worth about $55,000.

Direxion Daily S&P 500 High Beta Bear 3X Shares Trading Up 2.7%

Shares of NYSEARCA:HIBS traded up $0.78 during trading on Tuesday, reaching $29.68. The stock had a trading volume of 158,800 shares, compared to its average volume of 295,232. Direxion Daily S&P 500 High Beta Bear 3X Shares has a 52 week low of $24.94 and a 52 week high of $142.20. The stock has a fifty day simple moving average of $38.33 and a two-hundred day simple moving average of $45.34.

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.