Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Short Interest Down 13.5% in January

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) was the target of a significant decline in short interest during the month of January. As of January 15th, there was short interest totaling 111,888 shares, a decline of 13.5% from the December 31st total of 129,421 shares. Based on an average daily volume of 2,192,032 shares, the days-to-cover ratio is presently 0.1 days. Approximately 2.4% of the company’s stock are short sold. Approximately 2.4% of the company’s stock are short sold. Based on an average daily volume of 2,192,032 shares, the days-to-cover ratio is presently 0.1 days.

Direxion Daily S&P 500 High Beta Bear 3X Shares Trading Up 0.2%

NYSEARCA:HIBS traded up $0.01 on Tuesday, hitting $4.32. The stock had a trading volume of 705,111 shares, compared to its average volume of 2,115,451. Direxion Daily S&P 500 High Beta Bear 3X Shares has a 1 year low of $4.12 and a 1 year high of $41.69. The firm’s fifty day simple moving average is $4.79 and its two-hundred day simple moving average is $6.16.

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

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

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.