Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Short Interest Update

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) saw a significant decrease in short interest in the month of February. As of February 27th, there was short interest totaling 502,860 shares, a decrease of 17.3% from the February 12th total of 608,045 shares. Based on an average daily trading volume, of 8,916,842 shares, the days-to-cover ratio is presently 0.1 days. Currently, 111.7% of the company’s shares are short sold. Currently, 111.7% of the company’s shares are short sold. Based on an average daily trading volume, of 8,916,842 shares, the days-to-cover ratio is presently 0.1 days.

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

A number of hedge funds have recently modified their holdings of HIBS. Group One Trading LLC acquired a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the third quarter worth $28,000. StoneX Group Inc. acquired a new stake in Direxion Daily S&P 500 High Beta Bear 3X Shares in the fourth quarter valued at $55,000. HRT Financial LP bought a new position in Direxion Daily S&P 500 High Beta Bear 3X Shares during the 4th quarter worth $59,000. Tower Research Capital LLC TRC bought a new position in Direxion Daily S&P 500 High Beta Bear 3X Shares during the 2nd quarter worth $219,000. Finally, Virtu Financial LLC lifted its holdings in Direxion Daily S&P 500 High Beta Bear 3X Shares by 322.9% during the 4th 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.

Direxion Daily S&P 500 High Beta Bear 3X Shares Stock Down 4.2%

NYSEARCA:HIBS traded down $2.03 during mid-day trading on Monday, hitting $46.81. 101,733 shares of the company’s stock were exchanged, compared to its average volume of 439,496. The company has a 50 day simple moving average of $43.43 and a 200-day simple moving average of $54.08. Direxion Daily S&P 500 High Beta Bear 3X Shares has a fifty-two week low of $38.70 and a fifty-two week high of $416.90.

Direxion Daily S&P 500 High Beta Bear 3X Shares Company Profile

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.