Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) Trading 2.3% Higher – Should You Buy?

Shares of Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) were up 2.3% on Monday . The company traded as high as $26.42 and last traded at $26.29. Approximately 11,378,300 shares were traded during trading, a decline of 18% from the average daily volume of 13,920,777 shares. The stock had previously closed at $25.70.

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

The stock has a 50 day moving average of $27.11 and a 200-day moving average of $32.51.

Institutional Trading of Direxion Daily S&P 500 Bear 3X Shares

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Daytona Street Capital LLC bought a new stake in Direxion Daily S&P 500 Bear 3X Shares during the 4th quarter valued at approximately $1,376,000. IMC Chicago LLC bought a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the fourth quarter valued at approximately $8,967,000. PayPay Securities Corp raised its position in shares of Direxion Daily S&P 500 Bear 3X Shares by 145.2% during the fourth quarter. PayPay Securities Corp now owns 3,008 shares of the company’s stock valued at $107,000 after buying an additional 1,781 shares during the last quarter. Hamilton Wealth LLC purchased a new position in shares of Direxion Daily S&P 500 Bear 3X Shares in the first quarter worth $19,108,000. Finally, Guardian Partners Inc. purchased a new position in shares of Direxion Daily S&P 500 Bear 3X Shares in the first quarter worth $203,000.

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.