Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Shares Down 4.5% – Time to Sell?

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) were down 4.5% on Thursday . The company traded as low as $16.45 and last traded at $16.68. Approximately 250,610 shares traded hands during trading, a decline of 11% from the average daily volume of 281,458 shares. The stock had previously closed at $17.46.

Direxion Daily S&P 500 High Beta Bear 3X Shares Stock Up 3.2 %

The business has a 50 day moving average price of $17.20 and a 200 day moving average price of $20.00.

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 lifted its position in 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 13F filing with the Securities and Exchange Commission (SEC). The firm 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 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.