Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) Shares Gap Up – Time to Buy?

Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $7.92, but opened at $8.54. Direxion Daily S&P 500 Bear 3X Shares shares last traded at $8.63, with a volume of 16,996,742 shares traded.

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

The stock’s fifty day moving average is $6.46 and its two-hundred day moving average is $6.32.

Direxion Daily S&P 500 Bear 3X Shares Cuts Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th were paid a $0.0842 dividend. The ex-dividend date of this dividend was Tuesday, March 25th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Two Sigma Securities LLC raised its position in Direxion Daily S&P 500 Bear 3X Shares by 3.9% in the 4th quarter. Two Sigma Securities LLC now owns 52,471 shares of the company’s stock valued at $330,000 after buying an additional 1,968 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Direxion Daily S&P 500 Bear 3X Shares by 491.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 73,700 shares of the company’s stock worth $463,000 after acquiring an additional 61,232 shares in the last quarter. XTX Topco Ltd grew its stake in shares of Direxion Daily S&P 500 Bear 3X Shares by 21.7% in the 4th quarter. XTX Topco Ltd now owns 18,499 shares of the company’s stock worth $116,000 after acquiring an additional 3,298 shares in the last quarter. Rathbones Group PLC purchased a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the fourth quarter valued at about $98,000. Finally, Waterloo Capital L.P. lifted its position in shares of Direxion Daily S&P 500 Bear 3X Shares by 15.6% during the fourth quarter. Waterloo Capital L.P. now owns 18,500 shares of the company’s stock valued at $116,000 after purchasing an additional 2,500 shares in the last quarter.

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.