Direxion Daily S&P 500 Bear 3X ETF (NYSEARCA:SPXS) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

Direxion Daily S&P 500 Bear 3X ETF (NYSEARCA:SPXS)’s share price crossed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $24.51 and traded as high as $26.14. Direxion Daily S&P 500 Bear 3X ETF shares last traded at $25.63, with a volume of 15,979,723 shares traded.

Direxion Daily S&P 500 Bear 3X ETF Trading Up 5.5%

The business’s 50 day moving average price is $24.51 and its 200-day moving average price is $29.43.

Hedge Funds Weigh In On Direxion Daily S&P 500 Bear 3X ETF

Several hedge funds have recently added to or reduced their stakes in SPXS. IMC Chicago LLC raised its position in shares of Direxion Daily S&P 500 Bear 3X ETF by 323.0% in the first quarter. IMC Chicago LLC now owns 1,069,475 shares of the company’s stock valued at $43,303,000 after buying an additional 816,668 shares during the last quarter. Hamilton Wealth LLC purchased a new position in shares of Direxion Daily S&P 500 Bear 3X ETF in the 1st quarter worth $19,108,000. Group One Trading LLC acquired a new position in shares of Direxion Daily S&P 500 Bear 3X ETF in the 1st quarter valued at about $2,172,000. Corient Private Wealth LLC purchased a new stake in Direxion Daily S&P 500 Bear 3X ETF during the fourth quarter worth approximately $359,000. Finally, Simplicity Wealth LLC raised its stake in shares of Direxion Daily S&P 500 Bear 3X ETF by 52.1% in the 3rd quarter. Simplicity Wealth LLC now owns 11,639 shares of the company’s stock valued at $288,000 after acquiring an additional 3,989 shares during the period.

About Direxion Daily S&P 500 Bear 3X ETF

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.