Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN – Get Free Report) saw a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 2,258,856 shares, a decline of 63.5% from the June 15th total of 6,188,874 shares. Based on an average daily volume of 44,664,010 shares, the days-to-cover ratio is currently 0.1 days. Approximately 9.3% of the company’s shares are short sold.
Hedge Funds Weigh In On Direxion Daily S&P 500 Bear 1x Shares
Hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC acquired a new stake in Direxion Daily S&P 500 Bear 1x Shares during the 4th quarter valued at approximately $49,000. Strait & Sound Wealth Management LLC bought a new stake in shares of Direxion Daily S&P 500 Bear 1x Shares in the 1st quarter valued at $100,000. A. D. Beadell Investment Counsel Inc. bought a new stake in shares of Direxion Daily S&P 500 Bear 1x Shares in the 4th quarter valued at $117,000. Waverly Advisors LLC acquired a new stake in shares of Direxion Daily S&P 500 Bear 1x Shares during the first quarter worth $136,000. Finally, IHT Wealth Management LLC acquired a new stake in shares of Direxion Daily S&P 500 Bear 1x Shares during the second quarter worth $159,000.
Direxion Daily S&P 500 Bear 1x Shares Stock Performance
NYSEARCA SPDN opened at $8.59 on Monday. Direxion Daily S&P 500 Bear 1x Shares has a twelve month low of $8.58 and a twelve month high of $10.35. The stock has a fifty day simple moving average of $8.76 and a 200 day simple moving average of $9.23.
About Direxion Daily S&P 500 Bear 1x Shares
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.
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