Short Interest in Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Declines By 39.5%

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) saw a significant decline in short interest in April. As of April 30th, there was short interest totaling 11,852 shares, a decline of 39.5% from the April 15th total of 19,603 shares. Based on an average trading volume of 128,168 shares, the short-interest ratio is presently 0.1 days. Approximately 1.9% of the shares of the stock are short sold.

Direxion Daily S&P 500 High Beta Bear 3X Shares Stock Up 5.6%

NYSEARCA:HIBS traded up $1.53 during midday trading on Monday, hitting $28.90. The company had a trading volume of 457,604 shares, compared to its average volume of 296,955. Direxion Daily S&P 500 High Beta Bear 3X Shares has a 52-week low of $24.94 and a 52-week high of $142.20. The stock’s fifty day moving average price is $38.33 and its 200-day moving average price is $45.34.

Institutional Trading of Direxion Daily S&P 500 High Beta Bear 3X Shares

Institutional investors have recently added to or reduced their stakes in the business. Choreo LLC purchased a new stake in Direxion Daily S&P 500 High Beta Bear 3X Shares during the third quarter valued at about $2,366,000. Tower Research Capital LLC TRC purchased a new stake in Direxion Daily S&P 500 High Beta Bear 3X Shares during the second quarter valued at about $219,000. Group One Trading LLC purchased a new stake in Direxion Daily S&P 500 High Beta Bear 3X Shares during the third quarter valued at about $28,000. HRT Financial LP purchased a new stake in Direxion Daily S&P 500 High Beta Bear 3X Shares during the fourth quarter valued at about $59,000. Finally, Virtu Financial LLC boosted its position in Direxion Daily S&P 500 High Beta Bear 3X Shares by 322.9% during the fourth quarter. Virtu Financial LLC now owns 168,005 shares of the company’s stock valued at $847,000 after buying an additional 128,276 shares during the period.

Direxion Daily S&P 500 High Beta Bear 3X Shares Company Profile

The Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) is an exchange-traded fund that is based on the S&P 500 High Beta index. The fund provides 3x daily inverse exposure to a beta-weighted index of 100 highest-beta stocks in the S&P 500. HIBS was launched on Nov 7, 2019 and is managed by Direxion.