Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) Shares Down 1.7% – Time to Sell?

Shares of Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) fell 1.7% on Wednesday . The company traded as low as $5.70 and last traded at $5.71. 24,995,307 shares traded hands during trading, a decline of 31% from the average session volume of 36,401,617 shares. The stock had previously closed at $5.81.

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

The stock has a 50 day moving average price of $6.33 and a 200 day moving average price of $7.28.

Institutional Investors Weigh In On Direxion Daily S&P 500 Bear 3X Shares

Hedge funds have recently bought and sold shares of the business. Embree Financial Group purchased a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the third quarter worth $99,000. XTX Topco Ltd bought a new position in Direxion Daily S&P 500 Bear 3X Shares in the 3rd quarter worth about $101,000. Headlands Technologies LLC purchased a new stake in Direxion Daily S&P 500 Bear 3X Shares during the 2nd quarter valued at about $281,000. Lazari Capital Management Inc. increased its stake in Direxion Daily S&P 500 Bear 3X Shares by 342.8% during the 2nd quarter. Lazari Capital Management Inc. now owns 49,150 shares of the company’s stock valued at $386,000 after purchasing an additional 38,050 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Direxion Daily S&P 500 Bear 3X Shares during the 2nd quarter valued at about $655,000.

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.