Direxion Daily S&P 500 Bear 3X Shares Sees Unusually Large Options Volume (NYSEARCA:SPXS)

Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) was the recipient of some unusual options trading on Monday. Investors bought 20,389 call options on the company. This is an increase of 70% compared to the average volume of 11,986 call options.

Direxion Daily S&P 500 Bear 3X Shares Price Performance

Shares of SPXS traded down $1.43 during mid-day trading on Monday, reaching $26.00. 7,856,421 shares of the company were exchanged, compared to its average volume of 14,532,098. Direxion Daily S&P 500 Bear 3X Shares has a 52 week low of $25.53 and a 52 week high of $53.80. The business has a 50 day simple moving average of $29.96 and a two-hundred day simple moving average of $33.83.

Hedge Funds Weigh In On Direxion Daily S&P 500 Bear 3X Shares

A number of hedge funds have recently made changes to their positions in SPXS. IMC Chicago LLC raised its position in shares of Direxion Daily S&P 500 Bear 3X Shares by 323.0% during the first quarter. IMC Chicago LLC now owns 1,069,475 shares of the company’s stock worth $43,303,000 after acquiring an additional 816,668 shares during the last quarter. Hamilton Wealth LLC bought a new position in shares of Direxion Daily S&P 500 Bear 3X Shares during the first quarter worth about $19,108,000. Jump Financial LLC bought a new position in shares of Direxion Daily S&P 500 Bear 3X Shares during the second quarter worth about $1,537,000. Tower Research Capital LLC TRC raised its position in shares of Direxion Daily S&P 500 Bear 3X Shares by 174.4% during the second quarter. Tower Research Capital LLC TRC now owns 107,891 shares of the company’s stock worth $506,000 after acquiring an additional 68,566 shares during the last quarter. Finally, Group One Trading LLC bought a new position in shares of Direxion Daily S&P 500 Bear 3X Shares during the first quarter worth about $2,172,000.

Direxion Daily S&P 500 Bear 3X Shares Company Profile

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.