Direxion Daily S&P 500 Bear 3X Shares Sees Unusually Large Options Volume (NYSEARCA:SPXS)

Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) was the target of some unusual options trading activity on Monday. Investors purchased 54,428 call options on the company. This is an increase of 112% compared to the average daily volume of 25,701 call options.

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

Shares of SPXS opened at $9.78 on Tuesday. Direxion Daily S&P 500 Bear 3X Shares has a 52-week low of $8.65 and a 52-week high of $18.62. The business has a fifty day moving average of $9.46 and a 200 day moving average of $11.99.

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

A number of institutional investors have recently modified their holdings of the stock. Signaturefd LLC boosted its holdings in shares of Direxion Daily S&P 500 Bear 3X Shares by 112.1% in the 3rd quarter. Signaturefd LLC now owns 104,997 shares of the company’s stock valued at $1,657,000 after buying an additional 55,500 shares in the last quarter. Pathstone Family Office LLC acquired a new stake in Direxion Daily S&P 500 Bear 3X Shares during the 3rd quarter worth about $1,137,000. HighTower Advisors LLC purchased a new position in shares of Direxion Daily S&P 500 Bear 3X Shares in the third quarter worth about $523,000. Headlands Technologies LLC acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the third quarter worth about $665,000. Finally, Menlo Advisors LLC purchased a new stake in Direxion Daily S&P 500 Bear 3X Shares in the third quarter valued at approximately $789,000.

About Direxion Daily S&P 500 Bear 3X Shares

Direxion Daily S&P 500 Bear 3X Shares ETF, formerly Direxion Daily S&P 500 Bear 3X Shares, seeks daily investment results of 300% of the inverse (or opposite) of the price performance of the S&P 500 Index. The S&P 500 Index is a capitalization-weighted index composed of 500 domestic common stocks. Standard & Poor’s selects the 500 stocks comprising the Index on the basis of market values and industry diversification.