Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Trading 3.2% Higher

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS)’s share price traded up 3.2% on Thursday . The company traded as high as $43.75 and last traded at $43.70. 61,359 shares were traded during mid-day trading, a decline of 74% from the average session volume of 238,165 shares. The stock had previously closed at $42.36.

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

The business’s 50-day moving average is $49.10 and its two-hundred day moving average is $44.42.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Group One Trading L.P. bought a new position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the 3rd quarter valued at about $44,000. Procyon Advisors LLC bought a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the 3rd quarter worth about $384,000. GTS Securities LLC bought a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the 3rd quarter worth about $397,000. UBS Group AG bought a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares during the 4th quarter worth about $84,000. Finally, Simplex Trading LLC boosted its holdings in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares by 8,367.1% during the 2nd quarter. Simplex Trading LLC now owns 11,854 shares of the company’s stock worth $43,000 after buying an additional 11,714 shares during the period.

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

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.