Short Interest in Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Expands By 279.4%

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 75,508 shares, a growth of 279.4% from the June 30th total of 19,901 shares. Approximately 6.9% of the company’s shares are short sold. Based on an average daily volume of 166,895 shares, the short-interest ratio is presently 0.5 days.

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

Shares of HIBS opened at $22.52 on Tuesday. The company’s 50-day simple moving average is $21.17 and its 200-day simple moving average is $33.66. Direxion Daily S&P 500 High Beta Bear 3X Shares has a 1 year low of $17.12 and a 1 year high of $89.90.

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

Hedge funds have recently bought and sold shares of the stock. Prosperity Wealth Management Inc. boosted its stake in shares of 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 buying an additional 170,165 shares during the period. Virtu Financial LLC increased its stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares by 322.9% during the fourth quarter. Virtu Financial LLC now owns 168,005 shares of the company’s stock worth $847,000 after buying an additional 128,276 shares during the period. Tower Research Capital LLC TRC acquired a new stake in Direxion Daily S&P 500 High Beta Bear 3X Shares in the second quarter valued at approximately $219,000. HRT Financial LP acquired a new stake in Direxion Daily S&P 500 High Beta Bear 3X Shares in the fourth quarter valued at approximately $59,000. Finally, StoneX Group Inc. purchased a new position in Direxion Daily S&P 500 High Beta Bear 3X Shares in the fourth quarter worth approximately $55,000.

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.