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

Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-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 changing hands.

Direxion Daily S&P 500 High Beta Bear 3X Shares Trading Up 3.0 %

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

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

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 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,335 shares of the company’s stock after purchasing an additional 4,764 shares during the quarter. Jane Street Group LLC owned approximately 1.35% of Direxion Daily S&P 500 High Beta Bear 3X Shares worth $370,000 as of its most recent filing with the Securities & Exchange Commission.

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.