Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS – Get Free Report) was the target of a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 38,055 shares, a drop of 35.7% from the May 14th total of 59,162 shares. Based on an average daily volume of 187,079 shares, the days-to-cover ratio is presently 0.2 days. Currently, 5.9% of the company’s stock are short sold.
Hedge Funds Weigh In On Direxion Daily S&P 500 High Beta Bear 3X Shares
A number of hedge funds have recently added to or reduced their stakes in HIBS. Tower Research Capital LLC TRC acquired a new position in Direxion Daily S&P 500 High Beta Bear 3X Shares during the 2nd quarter valued at about $219,000. Choreo LLC acquired a new position in Direxion Daily S&P 500 High Beta Bear 3X Shares during the 3rd quarter valued at about $2,366,000. Group One Trading LLC acquired a new position in Direxion Daily S&P 500 High Beta Bear 3X Shares during the 3rd quarter valued at about $28,000. Prosperity Wealth Management Inc. boosted its stake in Direxion Daily S&P 500 High Beta Bear 3X Shares by 213.9% during the 3rd quarter. Prosperity Wealth Management Inc. now owns 249,733 shares of the company’s stock valued at $1,621,000 after purchasing an additional 170,165 shares during the last quarter. Finally, StoneX Group Inc. acquired a new position in Direxion Daily S&P 500 High Beta Bear 3X Shares during the 4th quarter valued at about $55,000.
Direxion Daily S&P 500 High Beta Bear 3X Shares Price Performance
NYSEARCA HIBS opened at $19.63 on Thursday. The company has a fifty day simple moving average of $27.62 and a 200 day simple moving average of $39.48. Direxion Daily S&P 500 High Beta Bear 3X Shares has a 12-month low of $17.83 and a 12-month high of $116.40.
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.
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