Traders Purchase High Volume of Call Options on Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS)

Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) was the target of unusually large options trading on Monday. Investors purchased 44,384 call options on the stock. This represents an increase of approximately 69% compared to the typical daily volume of 26,240 call options.

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

NYSEARCA SPXS traded up $0.06 during mid-day trading on Monday, hitting $5.89. The company’s stock had a trading volume of 79,234,074 shares, compared to its average volume of 74,244,383. The company’s 50 day simple moving average is $5.96 and its 200 day simple moving average is $6.69. Direxion Daily S&P 500 Bear 3X Shares has a twelve month low of $5.58 and a twelve month high of $10.66.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC bought a new position in Direxion Daily S&P 500 Bear 3X Shares in the 2nd quarter valued at $655,000. Embree Financial Group purchased a new position in Direxion Daily S&P 500 Bear 3X Shares in the third quarter valued at approximately $99,000. XTX Topco Ltd purchased a new position in Direxion Daily S&P 500 Bear 3X Shares in the third quarter valued at approximately $101,000. AFG Fiduciary Services Limited Partnership purchased a new stake in Direxion Daily S&P 500 Bear 3X Shares in the fourth quarter worth $178,000. Finally, Patriot Investment Management Group Inc. bought a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the fourth quarter valued at $126,000.

About Direxion Daily S&P 500 Bear 3X Shares

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.