Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Shares Down 4.5% – Should You Sell?

Shares of Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) fell 4.5% during trading on Thursday . The stock traded as low as $16.45 and last traded at $16.68. 250,610 shares were traded during trading, a decline of 11% from the average session volume of 281,458 shares. The stock had previously closed at $17.46.

Direxion Daily S&P 500 High Beta Bear 3X Shares Stock Down 4.5 %

The company’s fifty day moving average price is $17.21 and its two-hundred day moving average price is $20.05.

Institutional Trading of 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 position in Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) by 32.7% in the third quarter, according to the company in 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 quarter. Jane Street Group LLC owned approximately 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.