Traders Buy Large 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 recipient of unusually large options trading on Tuesday. Traders acquired 34,310 call options on the company. This is an increase of approximately 20% compared to the average daily volume of 28,685 call options.

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

Shares of SPXS traded up $0.19 during trading hours on Tuesday, reaching $6.61. 64,699,155 shares of the company traded hands, compared to its average volume of 69,774,813. Direxion Daily S&P 500 Bear 3X Shares has a 12-month low of $5.55 and a 12-month high of $10.45. The business has a fifty day moving average price of $5.95 and a 200-day moving average price of $6.36.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Two Sigma Securities LLC grew its holdings in shares of Direxion Daily S&P 500 Bear 3X Shares by 3.9% during the fourth quarter. Two Sigma Securities LLC now owns 52,471 shares of the company’s stock worth $330,000 after buying an additional 1,968 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Direxion Daily S&P 500 Bear 3X Shares by 491.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 73,700 shares of the company’s stock valued at $463,000 after purchasing an additional 61,232 shares in the last quarter. XTX Topco Ltd increased its holdings in shares of Direxion Daily S&P 500 Bear 3X Shares by 21.7% in the fourth quarter. XTX Topco Ltd now owns 18,499 shares of the company’s stock valued at $116,000 after purchasing an additional 3,298 shares during the last quarter. Rathbones Group PLC purchased a new position in Direxion Daily S&P 500 Bear 3X Shares during the fourth quarter worth approximately $98,000. Finally, Waterloo Capital L.P. boosted its position in shares of Direxion Daily S&P 500 Bear 3X Shares by 15.6% during the 4th quarter. Waterloo Capital L.P. now owns 18,500 shares of the company’s stock valued at $116,000 after acquiring an additional 2,500 shares during the last quarter.

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.