Direxion Daily S&P 500 High Beta Bear 3X Shares (NYSEARCA:HIBS) Share Price Pass Below 200-Day Moving Average – What’s Next?

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

Direxion Daily S&P 500 High Beta Bear 3X Shares Price Performance

The business has a fifty day moving average of $18.74 and a 200-day moving average of $22.31.

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

A hedge fund recently raised its stake in Direxion Daily S&P 500 High Beta Bear 3X Shares stock. Jane Street Group LLC raised its position in shares of 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 13F filing with the SEC. The institutional investor owned 19,335 shares of the company’s stock after purchasing an additional 4,764 shares during the quarter. Jane Street Group LLC owned about 1.35% of Direxion Daily S&P 500 High Beta Bear 3X Shares worth $370,000 as of its most recent SEC filing.

About Direxion Daily S&P 500 High Beta Bear 3X Shares

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.