Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Short Interest Up 399.2% in May

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) was the recipient of a significant growth in short interest in May. As of May 15th, there was short interest totaling 59,162 shares, a growth of 399.2% from the April 30th total of 11,852 shares. Approximately 9.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 115,759 shares, the short-interest ratio is presently 0.5 days.

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

A number of large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC boosted its holdings in 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 in the last quarter. HRT Financial LP bought a new stake in Direxion Daily S&P 500 High Beta Bear 3X Shares during the fourth quarter worth approximately $59,000. StoneX Group Inc. bought a new stake in Direxion Daily S&P 500 High Beta Bear 3X Shares during the fourth quarter worth approximately $55,000. Prosperity Wealth Management Inc. boosted its holdings in Direxion Daily S&P 500 High Beta Bear 3X Shares by 213.9% during the third quarter. Prosperity Wealth Management Inc. now owns 249,733 shares of the company’s stock worth $1,621,000 after buying an additional 170,165 shares in the last quarter. Finally, Group One Trading LLC bought a new stake in Direxion Daily S&P 500 High Beta Bear 3X Shares during the third quarter worth approximately $28,000.

Direxion Daily S&P 500 High Beta Bear 3X Shares Trading Down 4.4%

NYSEARCA:HIBS traded down $0.97 during trading hours on Friday, reaching $21.02. 107,631 shares of the company’s stock were exchanged, compared to its average volume of 285,673. Direxion Daily S&P 500 High Beta Bear 3X Shares has a 12 month low of $20.96 and a 12 month high of $135.50. The business’s 50-day simple moving average is $34.43 and its two-hundred day simple moving average is $43.39.

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.