Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) Shares Gap Up to $20.02

Shares of Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) gapped up before the market opened on Thursday . The stock had previously closed at $20.78, but opened at $20.02. Direxion Daily S&P 500 Bear 3X Shares shares last traded at $19.86, with a volume of 925,252 shares.

The firm’s fifty day simple moving average is $17.92 and its 200 day simple moving average is $20.09.

A number of hedge funds have recently made changes to their positions in SPXS. Hartline Investment Corp acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the second quarter valued at approximately $10,743,000. Deutsche Bank AG acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the fourth quarter valued at approximately $7,697,000. Tuttle Tactical Management acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the first quarter valued at approximately $2,639,000. Morgan Stanley raised its holdings in shares of Direxion Daily S&P 500 Bear 3X Shares by 240.5% in the second quarter. Morgan Stanley now owns 134,520 shares of the company’s stock valued at $2,472,000 after purchasing an additional 95,014 shares during the last quarter. Finally, DRW Securities LLC acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the second quarter valued at approximately $1,215,000.

Direxion Daily S&P 500 Bear 3X Shares Company Profile (NYSEARCA:SPXS)

Direxion Daily S&P 500 Bear 3X Shares ETF, formerly Direxion Daily S&P 500 Bear 3X Shares, seeks daily investment results of 300% of the inverse (or opposite) of the price performance of the S&P 500 Index. The S&P 500 Index is a capitalization-weighted index composed of 500 domestic common stocks. Standard & Poor’s selects the 500 stocks comprising the Index on the basis of market values and industry diversification.

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