Short Interest in Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Rises By 94.7%

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) was the recipient of a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 54,488 shares, an increase of 94.7% from the July 30th total of 27,979 shares. Currently, 5.8% of the shares of the stock are short sold. Based on an average daily volume of 134,662 shares, the days-to-cover ratio is currently 0.4 days.

Direxion Daily S&P 500 High Beta Bear 3X Shares Trading Up 6.8%

Shares of HIBS stock traded up $1.25 during mid-day trading on Friday, reaching $19.56. The stock had a trading volume of 186,618 shares, compared to its average volume of 259,275. The business has a 50-day simple moving average of $19.97 and a 200 day simple moving average of $29.69. Direxion Daily S&P 500 High Beta Bear 3X Shares has a 12-month low of $17.12 and a 12-month high of $80.70.

Institutional Investors Weigh In On Direxion Daily S&P 500 High Beta Bear 3X Shares

Hedge funds and other institutional investors have recently modified their holdings of the company. Group One Trading LLC purchased a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the third quarter valued at $28,000. StoneX Group Inc. acquired a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the 4th quarter valued at about $55,000. HRT Financial LP acquired a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the 4th quarter valued at about $59,000. Tower Research Capital LLC TRC purchased a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the 2nd quarter worth about $219,000. Finally, Virtu Financial LLC lifted its holdings in shares of 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 acquiring an additional 128,276 shares during the period.

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.