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) saw unusually large options trading on Tuesday. Investors acquired 42,671 call options on the company. This represents an increase of approximately 66% compared to the typical daily volume of 25,671 call options.

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

Several institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC bought a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the 2nd quarter worth $655,000. Lazari Capital Management Inc. lifted its holdings in shares of Direxion Daily S&P 500 Bear 3X Shares by 342.8% in the second quarter. Lazari Capital Management Inc. now owns 49,150 shares of the company’s stock worth $386,000 after acquiring an additional 38,050 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the 2nd quarter valued at approximately $281,000. XTX Topco Ltd bought a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the 3rd quarter valued at approximately $101,000. Finally, Embree Financial Group acquired a new position in Direxion Daily S&P 500 Bear 3X Shares during the 3rd quarter worth approximately $99,000.

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

Shares of NYSEARCA:SPXS traded up $0.20 on Tuesday, reaching $6.20. 96,609,002 shares of the company’s stock were exchanged, compared to its average volume of 92,188,641. Direxion Daily S&P 500 Bear 3X Shares has a twelve month low of $5.67 and a twelve month high of $12.11. The company has a fifty day moving average of $6.07 and a 200-day moving average of $6.89.

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.