Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) Sees Large Growth in Short Interest

Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totaling 1,722,639 shares, a growth of 401.6% from the November 30th total of 343,396 shares. Approximately 13.6% of the company’s shares are short sold. Based on an average daily volume of 25,898,045 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 25,898,045 shares, the days-to-cover ratio is currently 0.1 days. Approximately 13.6% of the company’s shares are short sold.

Direxion Daily S&P 500 Bear 1x Shares Price Performance

NYSEARCA:SPDN opened at $9.31 on Friday. The business’s 50-day moving average price is $9.52 and its two-hundred day moving average price is $9.87. Direxion Daily S&P 500 Bear 1x Shares has a 1-year low of $9.29 and a 1-year high of $13.35.

Hedge Funds Weigh In On Direxion Daily S&P 500 Bear 1x Shares

Several institutional investors and hedge funds have recently made changes to their positions in the company. Arkadios Wealth Advisors grew its position in shares of Direxion Daily S&P 500 Bear 1x Shares by 125.4% in the 3rd quarter. Arkadios Wealth Advisors now owns 894,034 shares of the company’s stock valued at $8,592,000 after purchasing an additional 497,419 shares during the period. Bison Wealth LLC bought a new position in Direxion Daily S&P 500 Bear 1x Shares during the 4th quarter worth about $4,236,000. Jump Financial LLC acquired a new stake in shares of Direxion Daily S&P 500 Bear 1x Shares in the 2nd quarter valued at about $3,463,000. HRT Financial LP acquired a new stake in shares of Direxion Daily S&P 500 Bear 1x Shares in the 2nd quarter valued at about $2,886,000. Finally, NewEdge Advisors LLC bought a new stake in shares of Direxion Daily S&P 500 Bear 1x Shares in the first quarter valued at about $2,654,000.

Direxion Daily S&P 500 Bear 1x Shares Company Profile

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.