Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) Trading Down 4.4%

Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS)’s share price traded down 4.4% during mid-day trading on Tuesday . The company traded as low as $8.68 and last traded at $8.75. 25,334,096 shares were traded during trading, a decline of 20% from the average session volume of 31,696,875 shares. The stock had previously closed at $9.15.

Direxion Daily S&P 500 Bear 3X Shares Trading Down 7.0 %

The stock’s 50-day simple moving average is $7.94 and its 200-day simple moving average is $8.98.

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

Hedge funds and other institutional investors have recently modified their holdings of the business. Lazari Capital Management Inc. purchased a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the 1st quarter worth about $97,000. Cruiser Capital Advisors LLC purchased a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the 4th quarter worth about $116,000. Rathbones Group PLC purchased a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the 4th quarter worth about $139,000. QCM Cayman Ltd. purchased a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the 1st quarter worth about $153,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the 4th quarter worth about $173,000.

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.