Direxion Daily S&P 500 Bear 3X Shares Target of Unusually High Options Trading (NYSEARCA:SPXS)

Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) was the target of unusually large options trading activity on Thursday. Stock traders bought 24,955 call options on the company. This is an increase of approximately 60% compared to the typical volume of 15,617 call options.

Direxion Daily S&P 500 Bear 3X Shares Stock Down 1.9%

Shares of SPXS traded down $0.45 during mid-day trading on Thursday, hitting $23.59. 10,449,927 shares of the company were exchanged, compared to its average volume of 13,447,410. Direxion Daily S&P 500 Bear 3X Shares has a 1-year low of $23.40 and a 1-year high of $44.83. The company has a 50 day moving average of $26.57 and a 200-day moving average of $31.19.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hamilton Wealth LLC purchased a new position in Direxion Daily S&P 500 Bear 3X Shares in the 1st quarter valued at $6,369,000. IMC Chicago LLC purchased a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the fourth quarter worth $8,967,000. Group One Trading LLC purchased a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the first quarter worth $2,172,000. Corient Private Wealth LLC acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the fourth quarter valued at about $359,000. Finally, PayPay Securities Corp raised its position in shares of Direxion Daily S&P 500 Bear 3X Shares by 145.2% in 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.

About Direxion Daily S&P 500 Bear 3X Shares

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.