Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) Trading Down 1.8% – Time to Sell?

Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS)’s stock price traded down 1.8% during trading on Monday . The company traded as low as $35.01 and last traded at $35.09. 3,991,391 shares changed hands during trading, a decline of 40% from the average session volume of 6,697,372 shares. The stock had previously closed at $35.74.

Direxion Daily S&P 500 Bear 3X Shares Stock Performance

The firm has a 50-day moving average price of $36.58 and a 200 day moving average price of $41.26.

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

Several large investors have recently added to or reduced their stakes in SPXS. Virtu Financial LLC acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the third quarter valued at $1,790,000. BTG Pactual Asset Management US LLC acquired a new position in shares of Direxion Daily S&P 500 Bear 3X Shares during the third quarter worth about $220,000. Group One Trading LLC acquired a new position in shares of Direxion Daily S&P 500 Bear 3X Shares during the third quarter worth about $310,000. Kiker Wealth Management LLC purchased a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the 3rd quarter valued at approximately $228,000. Finally, Global Retirement Partners LLC lifted its position in shares of Direxion Daily S&P 500 Bear 3X Shares by 12,458.3% during the 3rd quarter. Global Retirement Partners LLC now owns 6,028 shares of the company’s stock worth $229,000 after purchasing an additional 5,980 shares during the last quarter.

About Direxion Daily S&P 500 Bear 3X Shares

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.