Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Trading Down 2.6% – Here’s What Happened

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS)’s stock price fell 2.6% during mid-day trading on Tuesday . The company traded as low as $18.65 and last traded at $18.70. 132,642 shares were traded during mid-day trading, a decline of 46% from the average session volume of 244,927 shares. The stock had previously closed at $19.19.

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

The stock has a fifty day moving average price of $19.23 and a 200-day moving average price of $22.62.

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

A hedge fund recently raised its stake in Direxion Daily S&P 500 High Beta Bear 3X Shares stock. Jane Street Group LLC boosted its holdings in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) by 32.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,335 shares of the company’s stock after buying an additional 4,764 shares during the quarter. Jane Street Group LLC owned 1.35% of Direxion Daily S&P 500 High Beta Bear 3X Shares worth $370,000 at the end of the most recent reporting 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.