Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) Stock Price Down 1.8% – Should You Sell?

Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS)’s stock price dropped 1.8% during mid-day trading on Monday . The stock traded as low as $35.01 and last traded at $35.09. Approximately 3,991,391 shares changed hands during mid-day trading, a decline of 40% from the average daily volume of 6,697,372 shares. The stock had previously closed at $35.74.

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

The business’s 50-day moving average price is $36.42 and its 200-day moving average price is $41.09.

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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. HighTower Advisors LLC purchased a new position in shares of Direxion Daily S&P 500 Bear 3X Shares during the 1st quarter valued at about $306,000. DRW Securities LLC bought a new stake in Direxion Daily S&P 500 Bear 3X Shares during the 1st quarter worth approximately $419,000. Banque Transatlantique SA purchased a new position in Direxion Daily S&P 500 Bear 3X Shares during the first quarter valued at approximately $71,000. AFG Fiduciary Services Limited Partnership bought a new position in shares of Direxion Daily S&P 500 Bear 3X Shares in the second quarter worth approximately $61,000. Finally, Signaturefd LLC increased its stake in shares of Direxion Daily S&P 500 Bear 3X Shares by 97.5% in the second quarter. Signaturefd LLC now owns 150,000 shares of the company’s stock worth $704,000 after purchasing an additional 74,056 shares in 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.