Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Trading Up 6.1% – Here’s What Happened

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) were up 6.1% on Thursday . The stock traded as high as $26.22 and last traded at $25.86. Approximately 222,021 shares traded hands during trading, a decline of 27% from the average daily volume of 302,073 shares. The stock had previously closed at $24.37.

Direxion Daily S&P 500 High Beta Bear 3X Shares Trading Down 10.6 %

The firm’s fifty day moving average price is $18.48 and its two-hundred day moving average price is $18.98.

Institutional Investors Weigh In On Direxion Daily S&P 500 High Beta Bear 3X Shares

Institutional investors and hedge funds have recently made changes to their positions in the business. Jane Street Group LLC raised its holdings in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares by 32.7% in the 3rd quarter. Jane Street Group LLC now owns 19,335 shares of the company’s stock worth $370,000 after acquiring an additional 4,764 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the 4th quarter worth about $563,000. Finally, GTS Securities LLC acquired a new stake in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares in the 4th quarter worth about $904,000.

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

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.