Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) Shares Gap Down to $24.98

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Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXSGet Rating)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $24.98, but opened at $24.28. Direxion Daily S&P 500 Bear 3X Shares shares last traded at $24.29, with a volume of 266,399 shares trading hands.

Direxion Daily S&P 500 Bear 3X Shares Stock Down 8.1 %

The company’s fifty day moving average price is $24.90 and its two-hundred day moving average price is $21.42.

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

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of Montreal Can lifted its stake in shares of Direxion Daily S&P 500 Bear 3X Shares by 1,313.6% in the first quarter. Bank of Montreal Can now owns 1,145 shares of the company’s stock valued at $25,000 after purchasing an additional 1,064 shares during the period. Captrust Financial Advisors acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the first quarter valued at about $44,000. Citigroup Inc. acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the first quarter valued at about $53,000. Spire Wealth Management acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the fourth quarter valued at about $58,000. Finally, JFS Wealth Advisors LLC acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the fourth quarter valued at about $82,000.

About Direxion Daily S&P 500 Bear 3X Shares

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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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