Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Share Price Pass Below 200-Day Moving Average – What’s Next?

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $22.35 and traded as low as $16.43. Direxion Daily S&P 500 High Beta Bear 3X Shares shares last traded at $16.99, with a volume of 205,842 shares changing hands.

Direxion Daily S&P 500 High Beta Bear 3X Shares Stock Down 1.7 %

The stock has a fifty day moving average price of $18.74 and a 200-day moving average price of $22.31.

Institutional Trading of Direxion Daily S&P 500 High Beta Bear 3X Shares

A hedge fund recently raised its stake in Direxion Daily S&P 500 High Beta Bear 3X Shares stock. Jane Street Group LLC grew its position in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) by 32.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,335 shares of the company’s stock after buying an additional 4,764 shares during the quarter. Jane Street Group LLC owned approximately 1.35% of Direxion Daily S&P 500 High Beta Bear 3X Shares worth $370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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.