Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) Trading Up 1.1% – What’s Next?

Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) shares traded up 1.1% during mid-day trading on Monday . The company traded as high as $11.03 and last traded at $10.95. 9,189,991 shares were traded during trading, an increase of 87% from the average session volume of 4,912,837 shares. The stock had previously closed at $10.83.

Direxion Daily S&P 500 Bear 1x Shares Stock Performance

The firm has a 50 day moving average price of $10.94 and a 200 day moving average price of $11.38.

Institutional Investors Weigh In On Direxion Daily S&P 500 Bear 1x Shares

Several hedge funds have recently modified their holdings of SPDN. One Plus One Wealth Management LLC increased its holdings in Direxion Daily S&P 500 Bear 1x Shares by 3.6% during the third quarter. One Plus One Wealth Management LLC now owns 1,137,243 shares of the company’s stock valued at $12,737,000 after buying an additional 39,351 shares during the period. Belpointe Asset Management LLC lifted its stake in shares of Direxion Daily S&P 500 Bear 1x Shares by 2.7% during the 2nd quarter. Belpointe Asset Management LLC now owns 143,519 shares of the company’s stock worth $1,689,000 after purchasing an additional 3,724 shares during the last quarter. Maltin Wealth Management Inc. boosted its position in Direxion Daily S&P 500 Bear 1x Shares by 4.7% during the third quarter. Maltin Wealth Management Inc. now owns 54,603 shares of the company’s stock valued at $612,000 after purchasing an additional 2,460 shares in the last quarter. Choreo LLC purchased a new position in Direxion Daily S&P 500 Bear 1x Shares in the second quarter valued at about $377,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Direxion Daily S&P 500 Bear 1x Shares in the third quarter worth about $337,000.

Direxion Daily S&P 500 Bear 1x Shares Company Profile

The Direxion Daily S&P 500 Bear 1X Shares (SPDN) is an exchange-traded fund that is based on the S&P 500 index. The fund provides daily inverse exposure to the S&P 500, a market-cap-weighted index of 500 US large-cap firms selected by the S&Ps index committee. SPDN was launched on Jun 8, 2016 and is managed by Direxion.