Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) Short Interest Up 212.1% in January

Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) was the recipient of a large growth in short interest in the month of January. As of January 30th, there was short interest totaling 1,345,046 shares, a growth of 212.1% from the January 15th total of 430,964 shares. Currently, 6.1% of the shares of the company are sold short. Based on an average daily volume of 24,023,588 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 24,023,588 shares, the days-to-cover ratio is currently 0.1 days. Currently, 6.1% of the shares of the company are sold short.

Direxion Daily S&P 500 Bear 1x Shares Trading Up 0.1%

Shares of Direxion Daily S&P 500 Bear 1x Shares stock traded up $0.01 during trading hours on Friday, hitting $9.51. 49,029,667 shares of the company’s stock traded hands, compared to its average volume of 29,801,715. Direxion Daily S&P 500 Bear 1x Shares has a 12-month low of $9.26 and a 12-month high of $13.35. The company has a fifty day simple moving average of $9.40 and a 200-day simple moving average of $9.63.

Institutional Trading of Direxion Daily S&P 500 Bear 1x Shares

Hedge funds have recently added to or reduced their stakes in the stock. Rockport Wealth LLC bought a new position in shares of Direxion Daily S&P 500 Bear 1x Shares during the 4th quarter valued at approximately $26,392,000. Leuthold Group LLC lifted its stake in Direxion Daily S&P 500 Bear 1x Shares by 34.6% in the fourth quarter. Leuthold Group LLC now owns 2,340,534 shares of the company’s stock valued at $22,071,000 after purchasing an additional 601,711 shares during the last quarter. Arkadios Wealth Advisors grew its holdings in Direxion Daily S&P 500 Bear 1x Shares by 125.4% during the third 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 fourth quarter valued at $4,236,000. Finally, Jump Financial LLC purchased a new stake in Direxion Daily S&P 500 Bear 1x Shares in the second quarter worth $3,463,000.

About Direxion Daily S&P 500 Bear 1x Shares

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.