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

Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) saw unusually large options trading on Thursday. Stock investors bought 54,618 call options on the company. This represents an increase of 70% compared to the typical volume of 32,197 call options.

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

Shares of NYSEARCA:SPXS traded up $0.80 on Thursday, hitting $7.72. 68,257,208 shares of the company were exchanged, compared to its average volume of 51,297,450. The company’s 50 day moving average price is $6.34 and its two-hundred day moving average price is $6.30. Direxion Daily S&P 500 Bear 3X Shares has a one year low of $5.55 and a one year high of $10.45.

Direxion Daily S&P 500 Bear 3X Shares Cuts Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th were issued a dividend of $0.0842 per share. The ex-dividend date was Tuesday, March 25th.

Hedge Funds Weigh In On Direxion Daily S&P 500 Bear 3X Shares

A number of hedge funds have recently made changes to their positions in SPXS. PayPay Securities Corp boosted its stake in shares of Direxion Daily S&P 500 Bear 3X Shares by 128.3% in the 4th quarter. PayPay Securities Corp now owns 7,158 shares of the company’s stock valued at $45,000 after purchasing an additional 4,023 shares in the last quarter. Rathbones Group PLC acquired a new position in shares of Direxion Daily S&P 500 Bear 3X Shares during the fourth quarter worth approximately $98,000. XTX Topco Ltd bought a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the third quarter valued at approximately $101,000. Gimbal Financial bought a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares during the fourth quarter valued at approximately $110,000. Finally, Waterloo Capital L.P. increased its holdings in shares of Direxion Daily S&P 500 Bear 3X Shares by 15.6% in the fourth quarter. Waterloo Capital L.P. now owns 18,500 shares of the company’s stock valued at $116,000 after purchasing an additional 2,500 shares in the last quarter.

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

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.