Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Shares Down 4.5% – What’s Next?

Shares of Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) fell 4.5% on Thursday . The stock traded as low as $16.45 and last traded at $16.68. 250,610 shares traded hands during mid-day trading, a decline of 11% from the average session volume of 281,458 shares. The stock had previously closed at $17.46.

Direxion Daily S&P 500 High Beta Bear 3X Shares Trading Down 4.5 %

The company has a 50-day moving average of $17.21 and a 200 day moving average of $20.05.

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

A hedge fund recently raised its stake in Direxion Daily S&P 500 High Beta Bear 3X Shares stock. Jane Street Group LLC boosted its stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) by 32.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,335 shares of the company’s stock after acquiring an additional 4,764 shares during the quarter. Jane Street Group LLC owned approximately 1.35% of Direxion Daily S&P 500 High Beta Bear 3X Shares worth $370,000 as of its most recent SEC filing.

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.