Short Interest in Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Increases By 46.6%

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) was the recipient of a large growth in short interest during the month of January. As of January 30th, there was short interest totaling 164,070 shares, a growth of 46.6% from the January 15th total of 111,888 shares. Based on an average daily trading volume, of 2,218,632 shares, the short-interest ratio is presently 0.1 days. Approximately 3.7% of the shares of the company are short sold. Approximately 3.7% of the shares of the company are short sold. Based on an average daily trading volume, of 2,218,632 shares, the short-interest ratio is presently 0.1 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Choreo LLC bought a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the 3rd quarter worth approximately $2,366,000. Prosperity Wealth Management Inc. raised its position 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 worth $1,621,000 after purchasing an additional 170,165 shares during the period. Tower Research Capital LLC TRC bought a new stake in Direxion Daily S&P 500 High Beta Bear 3X Shares in the second quarter worth $219,000. HRT Financial LP purchased a new stake in Direxion Daily S&P 500 High Beta Bear 3X Shares during the fourth quarter valued at about $59,000. Finally, StoneX Group Inc. bought a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the fourth quarter valued at about $55,000.

Direxion Daily S&P 500 High Beta Bear 3X Shares Trading Down 3.0%

Shares of NYSEARCA:HIBS traded down $0.13 during trading on Monday, hitting $4.24. 3,906,185 shares of the company were exchanged, compared to its average volume of 2,541,923. Direxion Daily S&P 500 High Beta Bear 3X Shares has a 52-week low of $3.87 and a 52-week high of $41.69. The stock has a 50 day moving average of $4.56 and a 200 day moving average of $5.93.

Shares of Direxion Daily S&P 500 High Beta Bear 3X Shares are scheduled to reverse split on the morning of Thursday, March 5th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, March 4th.

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.