Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) Trading Down 4.4%

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Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXSGet Rating)’s stock price fell 4.4% during trading on Wednesday . The company traded as low as $27.00 and last traded at $27.06. 194,841 shares were traded during mid-day trading, a decline of 99% from the average session volume of 22,613,197 shares. The stock had previously closed at $28.30.

The stock’s fifty day moving average price is $22.01 and its two-hundred day moving average price is $19.92.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPXS. Bank of Montreal Can lifted its holdings in Direxion Daily S&P 500 Bear 3X Shares by 1,313.6% in the 1st quarter. Bank of Montreal Can now owns 1,145 shares of the company’s stock worth $25,000 after buying an additional 1,064 shares during the period. Captrust Financial Advisors purchased a new position in shares of Direxion Daily S&P 500 Bear 3X Shares in the 1st quarter valued at approximately $44,000. Citigroup Inc. purchased a new position in shares of Direxion Daily S&P 500 Bear 3X Shares in the 1st quarter valued at approximately $53,000. Spire Wealth Management purchased a new position in shares of Direxion Daily S&P 500 Bear 3X Shares in the 4th quarter valued at approximately $58,000. Finally, JFS Wealth Advisors LLC purchased a new position in shares of Direxion Daily S&P 500 Bear 3X Shares in the 4th quarter valued at approximately $82,000.

About Direxion Daily S&P 500 Bear 3X Shares (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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