Kaydan Wealth Management Inc. Has $10.59 Million Stock Position in Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN)

Kaydan Wealth Management Inc. decreased its holdings in Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) by 50.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 961,512 shares of the company’s stock after selling 995,225 shares during the period. Direxion Daily S&P 500 Bear 1x Shares accounts for about 3.5% of Kaydan Wealth Management Inc.’s holdings, making the stock its 10th biggest position. Kaydan Wealth Management Inc. owned 6.05% of Direxion Daily S&P 500 Bear 1x Shares worth $10,586,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. ORG Partners LLC grew its holdings in Direxion Daily S&P 500 Bear 1x Shares by 3,697.7% during the 4th quarter. ORG Partners LLC now owns 131,590 shares of the company’s stock valued at $1,449,000 after buying an additional 128,125 shares in the last quarter. One Plus One Wealth Management LLC increased its holdings in Direxion Daily S&P 500 Bear 1x Shares by 3.6% during the 3rd quarter. One Plus One Wealth Management LLC now owns 1,137,243 shares of the company’s stock worth $12,737,000 after acquiring an additional 39,351 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Direxion Daily S&P 500 Bear 1x Shares in the 3rd quarter worth approximately $337,000. NovaPoint Capital LLC purchased a new position in shares of Direxion Daily S&P 500 Bear 1x Shares during the 3rd quarter valued at $157,000. Finally, Maltin Wealth Management Inc. increased its holdings in shares of Direxion Daily S&P 500 Bear 1x Shares by 4.7% in the third quarter. Maltin Wealth Management Inc. now owns 54,603 shares of the company’s stock worth $612,000 after purchasing an additional 2,460 shares during the period.

Direxion Daily S&P 500 Bear 1x Shares Stock Performance

Shares of NYSEARCA SPDN opened at $10.82 on Monday. The stock’s 50-day simple moving average is $10.89 and its two-hundred day simple moving average is $11.30. Direxion Daily S&P 500 Bear 1x Shares has a twelve month low of $10.69 and a twelve month high of $13.45.

Direxion Daily S&P 500 Bear 1x Shares Profile

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.