Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) Trading Down 4.4%

Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) shares traded down 4.4% on Tuesday . The company traded as low as $8.68 and last traded at $8.75. 25,334,096 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 31,696,875 shares. The stock had previously closed at $9.15.

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

The stock’s 50 day moving average price is $7.93 and its 200-day moving average price is $9.00.

Hedge Funds Weigh In On Direxion Daily S&P 500 Bear 3X Shares

A number of hedge funds have recently made changes to their positions in the business. Lazari Capital Management Inc. purchased a new position in Direxion Daily S&P 500 Bear 3X Shares in the 1st quarter worth approximately $97,000. Cruiser Capital Advisors LLC purchased a new position in Direxion Daily S&P 500 Bear 3X Shares during the fourth quarter valued at $116,000. Rathbones Group PLC purchased a new position in Direxion Daily S&P 500 Bear 3X Shares during the fourth quarter valued at $139,000. QCM Cayman Ltd. bought a new stake in Direxion Daily S&P 500 Bear 3X Shares in the 1st quarter valued at $153,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in Direxion Daily S&P 500 Bear 3X Shares in the 4th quarter worth $173,000.

About Direxion Daily S&P 500 Bear 3X Shares

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.