Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) Shares Down 3.6%

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Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXSGet Rating)’s share price dropped 3.6% on Friday . The company traded as low as $21.50 and last traded at $21.56. Approximately 308,881 shares traded hands during trading, a decline of 99% from the average daily volume of 21,272,318 shares. The stock had previously closed at $22.37.

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

The stock’s fifty day moving average price is $22.29 and its two-hundred day moving average price is $21.78.

Institutional Trading of Direxion Daily S&P 500 Bear 3X Shares

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. purchased a new stake in Direxion Daily S&P 500 Bear 3X Shares in the second quarter worth about $513,000. Laurel Wealth Advisors Inc. purchased a new stake in Direxion Daily S&P 500 Bear 3X Shares in the second quarter worth about $304,000. Quantbot Technologies LP purchased a new stake in Direxion Daily S&P 500 Bear 3X Shares in the second quarter worth about $643,000. Flow Traders U.S. LLC lifted its holdings in Direxion Daily S&P 500 Bear 3X Shares by 65.8% in the second quarter. Flow Traders U.S. LLC now owns 69,718 shares of the company’s stock worth $1,859,000 after buying an additional 27,670 shares during the period. Finally, Bluestein R H & Co. LLC purchased a new stake in Direxion Daily S&P 500 Bear 3X Shares in the second quarter worth about $267,000.

About Direxion Daily S&P 500 Bear 3X Shares

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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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