Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) Short Interest Up 49.2% in March

Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) was the target of a large increase in short interest in March. As of March 13th, there was short interest totaling 2,584,161 shares, an increase of 49.2% from the February 26th total of 1,731,976 shares. Currently, 28.2% of the company’s stock are short sold. Based on an average trading volume of 26,730,079 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Trading of Direxion Daily S&P 500 Bear 3X Shares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPXS. MAI Capital Management purchased a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the 2nd quarter worth approximately $40,000. PayPay Securities Corp grew its position in shares of Direxion Daily S&P 500 Bear 3X Shares by 145.2% in the 4th quarter. PayPay Securities Corp now owns 3,008 shares of the company’s stock valued at $107,000 after buying an additional 1,781 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in Direxion Daily S&P 500 Bear 3X Shares during the 2nd quarter worth $119,000. BTG Pactual Asset Management US LLC acquired a new stake in Direxion Daily S&P 500 Bear 3X Shares during the 3rd quarter worth $220,000. Finally, Kiker Wealth Management LLC purchased a new stake in Direxion Daily S&P 500 Bear 3X Shares in the third quarter valued at $228,000.

Direxion Daily S&P 500 Bear 3X Shares Trading Up 5.2%

Shares of SPXS traded up $2.18 during mid-day trading on Friday, reaching $43.81. The company’s stock had a trading volume of 24,710,644 shares, compared to its average volume of 14,286,705. Direxion Daily S&P 500 Bear 3X Shares has a 12-month low of $33.29 and a 12-month high of $106.70. The company’s 50 day moving average is $36.25 and its 200 day moving average is $36.52.

About Direxion Daily S&P 500 Bear 3X Shares

Direxion Daily S&P 500 Bear 3X Shares ETF, formerly Direxion Daily S&P 500 Bear 3X Shares, seeks daily investment results of 300% of the inverse (or opposite) of the price performance of the S&P 500 Index. The S&P 500 Index is a capitalization-weighted index composed of 500 domestic common stocks. Standard & Poor’s selects the 500 stocks comprising the Index on the basis of market values and industry diversification. Most of the stocks in the Index are issued by the 500 largest companies, in terms of the aggregate market value of their outstanding stock, and generally are listed on the New York Stock Exchange.