Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Sees Significant Increase in Short Interest

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) was the target of a significant growth in short interest during the month of December. As of December 15th, there was short interest totaling 190,397 shares, a growth of 129.9% from the November 30th total of 82,820 shares. Based on an average trading volume of 2,242,584 shares, the short-interest ratio is presently 0.1 days. Currently, 3.5% of the company’s shares are short sold. Currently, 3.5% of the company’s shares are short sold. Based on an average trading volume of 2,242,584 shares, the short-interest ratio is presently 0.1 days.

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

A number of hedge funds have recently added to or reduced their stakes in the business. Choreo LLC bought a new position in Direxion Daily S&P 500 High Beta Bear 3X Shares during the 3rd quarter worth about $2,366,000. Prosperity Wealth Management Inc. lifted its position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares by 213.9% in the 3rd quarter. Prosperity Wealth Management Inc. now owns 249,733 shares of the company’s stock worth $1,621,000 after purchasing an additional 170,165 shares during the period. Tower Research Capital LLC TRC purchased a new position in Direxion Daily S&P 500 High Beta Bear 3X Shares during the second quarter valued at approximately $219,000. Finally, Group One Trading LLC purchased a new position in Direxion Daily S&P 500 High Beta Bear 3X Shares during the third quarter valued at approximately $28,000.

Direxion Daily S&P 500 High Beta Bear 3X Shares Stock Up 0.4%

HIBS opened at $4.70 on Friday. Direxion Daily S&P 500 High Beta Bear 3X Shares has a one year low of $4.61 and a one year high of $41.69. The stock’s 50 day moving average price is $5.57 and its 200-day moving average price is $7.16.

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.