Direxion Daily S&P 500 Bear 3X Shares (NYSEARCA:SPXS) was the target of a significant growth in short interest during the month of March. As of March 29th, there was short interest totalling 903,855 shares, a growth of 68.5% from the March 15th total of 536,306 shares. Based on an average trading volume of 8,983,537 shares, the days-to-cover ratio is presently 0.1 days.

Shares of SPXS opened at $19.36 on Tuesday. Direxion Daily S&P 500 Bear 3X Shares has a 12 month low of $19.26 and a 12 month high of $38.49.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 20th were given a dividend of $0.0621 per share. The ex-dividend date of this dividend was Tuesday, March 19th. This represents a $0.25 dividend on an annualized basis and a yield of 1.28%.

A number of institutional investors and hedge funds have recently modified their holdings of SPXS. Virtu Financial LLC grew its holdings in Direxion Daily S&P 500 Bear 3X Shares by 75.6% during the fourth quarter. Virtu Financial LLC now owns 164,486 shares of the company’s stock worth $5,065,000 after purchasing an additional 70,793 shares during the period. Simplex Trading LLC bought a new position in Direxion Daily S&P 500 Bear 3X Shares during the fourth quarter worth about $677,000. David R. Rahn & Associates Inc. bought a new position in Direxion Daily S&P 500 Bear 3X Shares during the fourth quarter worth about $4,288,000. Mycio Wealth Partners LLC bought a new position in Direxion Daily S&P 500 Bear 3X Shares during the fourth quarter worth about $1,163,000. Finally, Two Sigma Securities LLC bought a new position in Direxion Daily S&P 500 Bear 3X Shares during the fourth quarter worth about $440,000.

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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.

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