Direxion Daily S&P 500 High Beta Bear 3X Shares Stock Set to Reverse Split on Thursday, March 5th (NYSEARCA:HIBS)

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) shares are scheduled to reverse split on Thursday, March 5th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, March 4th.

Direxion Daily S&P 500 High Beta Bear 3X Shares Stock Performance

NYSEARCA:HIBS opened at $4.24 on Tuesday. Direxion Daily S&P 500 High Beta Bear 3X Shares has a 52 week low of $3.87 and a 52 week high of $41.69. The stock’s fifty day moving average is $4.54 and its two-hundred day moving average is $5.90.

Hedge Funds Weigh In On Direxion Daily S&P 500 High Beta Bear 3X Shares

Hedge funds and other institutional investors have recently bought and sold shares of the company. Group One Trading LLC acquired a new position in Direxion Daily S&P 500 High Beta Bear 3X Shares in the 3rd quarter valued at about $28,000. StoneX Group Inc. purchased a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the fourth quarter valued at approximately $55,000. HRT Financial LP acquired a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the fourth quarter valued at approximately $59,000. Tower Research Capital LLC TRC acquired a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the second quarter valued at approximately $219,000. Finally, Prosperity Wealth Management Inc. increased its stake in Direxion Daily S&P 500 High Beta Bear 3X Shares by 213.9% during the 3rd quarter. Prosperity Wealth Management Inc. now owns 249,733 shares of the company’s stock worth $1,621,000 after buying an additional 170,165 shares during the period.

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

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.