Direxion Daily S&P 500 Bear 1x Shares Sees Unusually Large Options Volume (NYSEARCA:SPDN)

Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) was the target of unusually large options trading activity on Tuesday. Investors purchased 4,442 put options on the stock. This represents an increase of approximately 1,635% compared to the typical daily volume of 256 put options.

Direxion Daily S&P 500 Bear 1x Shares Trading Down 0.4%

SPDN stock traded down $0.03 on Tuesday, reaching $8.53. 2,084,337 shares of the company were exchanged, compared to its average volume of 52,411,859. Direxion Daily S&P 500 Bear 1x Shares has a 12 month low of $8.36 and a 12 month high of $10.28. The stock’s fifty day moving average price is $8.65 and its 200 day moving average price is $9.06.

Institutional Investors Weigh In On Direxion Daily S&P 500 Bear 1x Shares

Several hedge funds have recently made changes to their positions in the stock. Rockport Wealth LLC acquired a new position in Direxion Daily S&P 500 Bear 1x Shares in the 4th quarter valued at approximately $26,392,000. IMC Chicago LLC grew its holdings in shares of Direxion Daily S&P 500 Bear 1x Shares by 306.9% during the 1st quarter. IMC Chicago LLC now owns 974,315 shares of the company’s stock worth $9,694,000 after purchasing an additional 734,884 shares in the last quarter. Leuthold Group LLC grew its holdings in shares of Direxion Daily S&P 500 Bear 1x Shares by 34.6% during the 4th quarter. Leuthold Group LLC now owns 2,340,534 shares of the company’s stock worth $22,071,000 after purchasing an additional 601,711 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Direxion Daily S&P 500 Bear 1x Shares by 763,361.5% during the fourth 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 during the period. Finally, Bison Wealth LLC acquired a new position in shares of Direxion Daily S&P 500 Bear 1x Shares in the fourth quarter valued at $4,236,000.

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.