Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Trading Up 0.3% – Still a Buy?

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) shares traded up 0.3% on Thursday . The company traded as high as $17.52 and last traded at $17.23. 119,276 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 238,804 shares. The stock had previously closed at $17.18.

Direxion Daily S&P 500 High Beta Bear 3X Shares Stock Performance

The business has a 50 day simple moving average of $17.85 and a 200-day simple moving average of $21.14.

Institutional Investors Weigh In On Direxion Daily S&P 500 High Beta Bear 3X Shares

An institutional investor recently raised its position in Direxion Daily S&P 500 High Beta Bear 3X Shares stock. Jane Street Group LLC boosted its holdings in Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) by 32.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,335 shares of the company’s stock after purchasing an additional 4,764 shares during the period. Jane Street Group LLC owned about 1.35% of Direxion Daily S&P 500 High Beta Bear 3X Shares worth $370,000 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.