Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) Shares Down 6.6%

Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXSGet Rating)’s share price dropped 6.6% during mid-day trading on Tuesday . The company traded as low as $27.60 and last traded at $27.63. Approximately 132,667 shares traded hands during trading, a decline of 99% from the average daily volume of 22,723,607 shares. The stock had previously closed at $29.57.

The stock’s 50-day moving average is $22.86 and its 200-day moving average is $20.21.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can raised its holdings in Direxion Daily S&P 500 Bear 3X Shares by 1,313.6% during the first quarter. Bank of Montreal Can now owns 1,145 shares of the company’s stock worth $25,000 after buying an additional 1,064 shares during the last quarter. Captrust Financial Advisors bought a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the 1st quarter worth $44,000. Citigroup Inc. bought a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the 1st quarter worth $53,000. Spire Wealth Management bought a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the 4th quarter worth $58,000. Finally, JFS Wealth Advisors LLC bought a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the 4th quarter worth $82,000.

Direxion Daily S&P 500 Bear 3X Shares Company Profile (NYSEARCA:SPXS)

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.

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