Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Trading Down 2.6% – Here’s What Happened

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) shares fell 2.6% on Tuesday . The stock traded as low as $18.65 and last traded at $18.70. 132,642 shares changed hands during trading, a decline of 46% from the average session volume of 244,927 shares. The stock had previously closed at $19.19.

Direxion Daily S&P 500 High Beta Bear 3X Shares Trading Down 6.4 %

The company’s 50-day moving average is $19.23 and its two-hundred day moving average is $22.62.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Direxion Daily S&P 500 High Beta Bear 3X Shares stock. Virtu Financial LLC raised its position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) by 150.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,126 shares of the company’s stock after buying an additional 38,476 shares during the quarter. Virtu Financial LLC owned about 4.48% of Direxion Daily S&P 500 High Beta Bear 3X Shares worth $1,413,000 as of its most recent SEC filing.

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

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.