Short Interest in Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) Drops By 40.6%

Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) was the recipient of a significant drop in short interest in February. As of February 13th, there was short interest totaling 799,366 shares, a drop of 40.6% from the January 29th total of 1,345,046 shares. Based on an average daily volume of 40,736,594 shares, the short-interest ratio is currently 0.0 days. Approximately 3.6% of the company’s stock are short sold. Approximately 3.6% of the company’s stock are short sold. Based on an average daily volume of 40,736,594 shares, the short-interest ratio is currently 0.0 days.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Virtu Financial LLC increased its holdings in shares of Direxion Daily S&P 500 Bear 1x Shares by 92.0% during the fourth quarter. Virtu Financial LLC now owns 97,579 shares of the company’s stock valued at $920,000 after acquiring an additional 46,745 shares in the last quarter. SB Capital Management Inc purchased a new stake in Direxion Daily S&P 500 Bear 1x Shares during the 4th quarter worth approximately $1,031,000. NewEdge Advisors LLC increased its stake in Direxion Daily S&P 500 Bear 1x Shares by 763,361.5% during the 4th quarter. NewEdge Advisors LLC now owns 496,250 shares of the company’s stock valued at $4,680,000 after purchasing an additional 496,185 shares in the last quarter. Quadrature Capital Ltd raised its holdings in shares of Direxion Daily S&P 500 Bear 1x Shares by 484.7% in the fourth quarter. Quadrature Capital Ltd now owns 215,757 shares of the company’s stock worth $2,035,000 after buying an additional 178,855 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of Direxion Daily S&P 500 Bear 1x Shares during the fourth quarter worth $49,000.

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

NYSEARCA:SPDN traded up $0.04 during trading hours on Friday, reaching $9.46. The company’s stock had a trading volume of 40,963,734 shares, compared to its average volume of 31,259,816. The stock has a 50 day moving average price of $9.38 and a two-hundred day moving average price of $9.58. Direxion Daily S&P 500 Bear 1x Shares has a 12 month low of $9.26 and a 12 month high of $13.35.

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.