Cushing Capital Partners LLC Invests $1.15 Million in Direxion Daily S&P 500 Bear 1x Shares $SPDN

Cushing Capital Partners LLC purchased a new position in Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 122,093 shares of the company’s stock, valued at approximately $1,151,000.

Other hedge funds also recently added to or reduced their stakes in the company. Arkadios Wealth Advisors grew its position in Direxion Daily S&P 500 Bear 1x Shares by 125.4% during the 3rd quarter. Arkadios Wealth Advisors now owns 894,034 shares of the company’s stock worth $8,592,000 after purchasing an additional 497,419 shares during the period. Bison Wealth LLC acquired a new position in Direxion Daily S&P 500 Bear 1x Shares in the 4th quarter worth about $4,236,000. Jump Financial LLC purchased a new position in shares of Direxion Daily S&P 500 Bear 1x Shares during the 2nd quarter valued at approximately $3,463,000. HRT Financial LP purchased a new position in Direxion Daily S&P 500 Bear 1x Shares during the second quarter valued at $2,886,000. Finally, ORG Partners LLC raised its position in shares of Direxion Daily S&P 500 Bear 1x Shares by 6,132.2% during the 3rd quarter. ORG Partners LLC now owns 131,250 shares of the company’s stock worth $1,261,000 after purchasing an additional 129,144 shares during the last quarter.

Direxion Daily S&P 500 Bear 1x Shares Stock Up 1.8%

Shares of Direxion Daily S&P 500 Bear 1x Shares stock opened at $10.20 on Friday. Direxion Daily S&P 500 Bear 1x Shares has a twelve month low of $9.26 and a twelve month high of $13.35. The firm’s 50-day moving average price is $9.55 and its 200 day moving average price is $9.54.

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.