Stock Traders Buy High Volume of Put Options on Direxion Daily S&P 500 Bear 1X ETF (NYSEARCA:SPDN)

Direxion Daily S&P 500 Bear 1X ETF (NYSEARCA:SPDN) was the target of some unusual options trading on Monday. Investors purchased 4,797 put options on the stock. This is an increase of approximately 717% compared to the typical volume of 587 put options.

Institutional Trading of Direxion Daily S&P 500 Bear 1X ETF

Several hedge funds and other institutional investors have recently modified their holdings of SPDN. Rockport Wealth LLC raised its holdings in Direxion Daily S&P 500 Bear 1X ETF by 3.8% in the 1st quarter. Rockport Wealth LLC now owns 2,904,522 shares of the company’s stock valued at $28,911,000 after acquiring an additional 105,788 shares during the period. One Plus One Wealth Management LLC grew its position in shares of Direxion Daily S&P 500 Bear 1X ETF by 35.9% in the first quarter. One Plus One Wealth Management LLC now owns 1,403,480 shares of the company’s stock valued at $13,965,000 after purchasing an additional 370,941 shares during the last quarter. IMC Chicago LLC increased its stake in shares of Direxion Daily S&P 500 Bear 1X ETF by 306.9% during the first quarter. IMC Chicago LLC now owns 974,315 shares of the company’s stock worth $9,694,000 after purchasing an additional 734,884 shares during the period. NewEdge Advisors LLC increased its stake in shares of Direxion Daily S&P 500 Bear 1X ETF by 69.6% during the first quarter. NewEdge Advisors LLC now owns 841,700 shares of the company’s stock worth $8,375,000 after purchasing an additional 345,450 shares during the period. Finally, Ascentis Independent Advisors acquired a new position in shares of Direxion Daily S&P 500 Bear 1X ETF during the 1st quarter worth approximately $2,227,000.

Direxion Daily S&P 500 Bear 1X ETF Trading Down 1.0%

SPDN stock traded down $0.09 during midday trading on Monday, reaching $8.51. 1,669,899 shares of the company were exchanged, compared to its average volume of 50,318,684. Direxion Daily S&P 500 Bear 1X ETF has a one year low of $8.36 and a one year high of $10.28. The business has a 50-day moving average price of $8.59 and a two-hundred day moving average price of $8.95.

Direxion Daily S&P 500 Bear 1X ETF Company Profile

The Direxion Daily S&P 500 Bear 1X Shares (SPDN) is an exchange-traded fund that is based on the S&P 500 index. The fund provides daily inverse exposure to the S&P 500, a market-cap-weighted index of 500 US large-cap firms selected by the S&Ps index committee. SPDN was launched on Jun 8, 2016 and is managed by Direxion.