Investors Buy 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) was the recipient of unusually large options trading activity on Tuesday. Investors bought 42,671 call options on the stock. This represents an increase of 66% compared to the average volume of 25,671 call options.

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

Shares of SPXS opened at $6.20 on Wednesday. The company’s 50 day simple moving average is $6.07 and its 200-day simple moving average is $6.89. Direxion Daily S&P 500 Bear 3X Shares has a 12-month low of $5.67 and a 12-month high of $12.11.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new position in shares of Direxion Daily S&P 500 Bear 3X Shares during the second quarter worth about $655,000. Lazari Capital Management Inc. increased its position in Direxion Daily S&P 500 Bear 3X Shares by 342.8% during the 2nd quarter. Lazari Capital Management Inc. now owns 49,150 shares of the company’s stock worth $386,000 after purchasing an additional 38,050 shares during the period. Headlands Technologies LLC purchased a new position in shares of Direxion Daily S&P 500 Bear 3X Shares during the 2nd quarter worth approximately $281,000. XTX Topco Ltd acquired a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the 3rd quarter valued at approximately $101,000. Finally, Embree Financial Group purchased a new stake in shares of Direxion Daily S&P 500 Bear 3X Shares in the third quarter valued at approximately $99,000.

About Direxion Daily S&P 500 Bear 3X Shares

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.