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

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

Direxion Daily S&P 500 High Beta Bear 3X Shares Stock Down 2.6 %

The company’s 50 day moving average is $19.45 and its 200 day moving average is $22.68.

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 increased its holdings in Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) by 32.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,335 shares of the company’s stock after acquiring 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 SEC filing.

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.