Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) Trading Down 0.2% – What’s Next?

Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) shares dropped 0.2% during trading on Wednesday . The company traded as low as $5.90 and last traded at $5.96. Approximately 60,307,149 shares changed hands during trading, an increase of 69% from the average daily volume of 35,657,477 shares. The stock had previously closed at $5.97.

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

The company’s fifty day moving average is $6.72 and its two-hundred day moving average is $7.63.

Institutional Trading of Direxion Daily S&P 500 Bear 3X Shares

Hedge funds have recently added to or reduced their stakes in the company. Lazari Capital Management Inc. purchased a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the first quarter worth about $97,000. Embree Financial Group acquired a new position in shares of Direxion Daily S&P 500 Bear 3X Shares during the third quarter valued at approximately $99,000. Headlands Technologies LLC purchased a new position in shares of Direxion Daily S&P 500 Bear 3X Shares in the second quarter valued at approximately $281,000. Renaissance Technologies LLC acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the second quarter worth approximately $655,000. Finally, Park Edge Advisors LLC acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the second quarter worth approximately $1,184,000.

Direxion Daily S&P 500 Bear 3X Shares Company Profile

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.