Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Stock Pass Below Two Hundred Day Moving Average – What’s Next?

Shares of Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $22.35 and traded as low as $16.43. Direxion Daily S&P 500 High Beta Bear 3X Shares shares last traded at $16.99, with a volume of 205,842 shares traded.

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

The company’s 50-day moving average is $18.80 and its two-hundred day moving average is $22.35.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Direxion Daily S&P 500 High Beta Bear 3X Shares stock. Jane Street Group LLC raised its holdings in shares of Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) by 32.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,335 shares of the company’s stock after acquiring 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 at the end of the most recent reporting period.

Direxion Daily S&P 500 High Beta Bear 3X Shares Company Profile

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.