Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Trading Down 1.9% – Here’s What Happened

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) fell 1.9% during mid-day trading on Tuesday . The stock traded as low as $18.26 and last traded at $18.38. 87,315 shares were traded during mid-day trading, a decline of 65% from the average session volume of 250,993 shares. The stock had previously closed at $18.74.

Direxion Daily S&P 500 High Beta Bear 3X Shares Trading Down 1.9 %

The firm has a 50-day moving average of $20.90 and a 200 day moving average of $23.55.

Hedge Funds Weigh In On 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. Virtu Financial LLC increased its position in Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) by 150.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 64,126 shares of the company’s stock after purchasing an additional 38,476 shares during the period. Virtu Financial LLC owned 4.48% of Direxion Daily S&P 500 High Beta Bear 3X Shares worth $1,413,000 at the end of the most recent reporting period.

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.