Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Short Interest Update

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 129,421 shares, a drop of 32.0% from the December 15th total of 190,397 shares. Currently, 2.8% of the shares of the company are short sold. Based on an average daily trading volume, of 980,841 shares, the short-interest ratio is currently 0.1 days. Based on an average daily trading volume, of 980,841 shares, the short-interest ratio is currently 0.1 days. Currently, 2.8% of the shares of the company are short sold.

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

A number of institutional investors and hedge funds have recently made changes to their positions in HIBS. Choreo LLC purchased a new position in Direxion Daily S&P 500 High Beta Bear 3X Shares in the 3rd quarter worth approximately $2,366,000. Prosperity Wealth Management Inc. lifted its holdings in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares by 213.9% in the third quarter. Prosperity Wealth Management Inc. now owns 249,733 shares of the company’s stock worth $1,621,000 after buying an additional 170,165 shares in the last quarter. Group One Trading LLC bought a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the third quarter worth $28,000. Finally, Tower Research Capital LLC TRC purchased a new position in Direxion Daily S&P 500 High Beta Bear 3X Shares during the second quarter valued at $219,000.

Direxion Daily S&P 500 High Beta Bear 3X Shares Stock Up 1.6%

Direxion Daily S&P 500 High Beta Bear 3X Shares stock traded up $0.07 during mid-day trading on Friday, reaching $4.34. 1,060,167 shares of the stock traded hands, compared to its average volume of 2,089,106. Direxion Daily S&P 500 High Beta Bear 3X Shares has a 12-month low of $4.16 and a 12-month high of $41.69. The business’s 50-day moving average is $5.22 and its 200-day moving average is $6.50.

About Direxion Daily S&P 500 High Beta Bear 3X Shares

The Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) is an exchange-traded fund that is based on the S&P 500 High Beta index. The fund provides 3x daily inverse exposure to a beta-weighted index of 100 highest-beta stocks in the S&P 500. HIBS was launched on Nov 7, 2019 and is managed by Direxion.