Direxion Daily S&P 500 Bear 1X ETF (NYSEARCA:SPDN) Stock Short Interest Rises 197.8%

Direxion Daily S&P 500 Bear 1X ETF (NYSEARCA:SPDN) was the target of a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 3,256,569 shares, a growth of 197.8% from the September 15th total of 1,093,699 shares. Currently, 9.2% of the shares of the company are short sold. Based on an average daily volume of 36,825,877 shares, the short-interest ratio is currently 0.1 days.

Institutional Trading of Direxion Daily S&P 500 Bear 1X ETF

A number of hedge funds have recently modified their holdings of SPDN. 4WEALTH Advisors Inc. lifted its holdings in shares of Direxion Daily S&P 500 Bear 1X ETF by 38.4% during the 3rd quarter. 4WEALTH Advisors Inc. now owns 111,047 shares of the company’s stock worth $941,000 after acquiring an additional 30,835 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Direxion Daily S&P 500 Bear 1X ETF by 69.6% in the 1st quarter. NewEdge Advisors LLC now owns 841,700 shares of the company’s stock worth $8,375,000 after acquiring an additional 345,450 shares in the last quarter. Verus Capital Partners LLC boosted its stake in Direxion Daily S&P 500 Bear 1X ETF by 119.0% in the first quarter. Verus Capital Partners LLC now owns 142,931 shares of the company’s stock worth $1,422,000 after purchasing an additional 77,678 shares in the last quarter. January Capital Advisors LLC acquired a new position in Direxion Daily S&P 500 Bear 1X ETF during the 1st quarter worth about $1,977,000. Finally, Strait & Sound Wealth Management LLC bought a new stake in shares of Direxion Daily S&P 500 Bear 1X ETF during the first quarter valued at approximately $100,000.

Direxion Daily S&P 500 Bear 1X ETF Price Performance

NYSEARCA SPDN opened at $8.34 on Wednesday. Direxion Daily S&P 500 Bear 1X ETF has a twelve month low of $8.28 and a twelve month high of $10.28. The stock has a 50-day simple moving average of $8.48 and a 200 day simple moving average of $8.79.

About Direxion Daily S&P 500 Bear 1X ETF

The Direxion Daily S&P 500 Bear 1X Shares (SPDN) is an exchange-traded fund that is based on the S&P 500 index. The fund provides daily inverse exposure to the S&P 500, a market-cap-weighted index of 500 US large-cap firms selected by the S&Ps index committee. SPDN was launched on Jun 8, 2016 and is managed by Direxion.