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

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

The firm’s 50 day simple moving average is $22.86 and its two-hundred day simple moving average is $20.21.

A number of hedge funds have recently added to or reduced their stakes in SPXS. Morgan Stanley increased its holdings in Direxion Daily S&P 500 Bear 3X Shares by 169.3% in the 2nd quarter. Morgan Stanley now owns 19,131 shares of the company’s stock valued at $461,000 after buying an additional 12,026 shares during the period. Royal Bank of Canada bought a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the 2nd quarter valued at approximately $190,000. Bank of America Corp DE grew its holdings in shares of Direxion Daily S&P 500 Bear 3X Shares by 134.0% during the 2nd quarter. Bank of America Corp DE now owns 24,729 shares of the company’s stock valued at $596,000 after purchasing an additional 14,162 shares during the last quarter. UBS Group AG grew its holdings in shares of Direxion Daily S&P 500 Bear 3X Shares by 69.1% during the 3rd quarter. UBS Group AG now owns 25,444 shares of the company’s stock valued at $590,000 after purchasing an additional 10,398 shares during the last quarter. Finally, Two Sigma Securities LLC bought a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the 3rd quarter valued at approximately $303,000.

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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