Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) Stock Price Down 0.2% – Should You Sell?

Direxion Daily S&P 500 Bear 1x Shares (NYSEARCA:SPDN) traded down 0.2% during trading on Monday . The company traded as low as $10.78 and last traded at $10.78. 4,601,422 shares changed hands during trading, a decline of 3% from the average session volume of 4,743,248 shares. The stock had previously closed at $10.80.

Direxion Daily S&P 500 Bear 1x Shares Stock Performance

The company has a 50 day simple moving average of $11.08 and a two-hundred day simple moving average of $11.57.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SPDN. One Plus One Wealth Management LLC boosted its stake in shares of Direxion Daily S&P 500 Bear 1x Shares by 3.6% during the 3rd quarter. One Plus One Wealth Management LLC now owns 1,137,243 shares of the company’s stock valued at $12,737,000 after buying an additional 39,351 shares during the period. Choreo LLC acquired a new stake in Direxion Daily S&P 500 Bear 1x Shares during the second quarter valued at $377,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Direxion Daily S&P 500 Bear 1x Shares in the third quarter valued at about $337,000. Creative Planning purchased a new position in Direxion Daily S&P 500 Bear 1x Shares in the second quarter valued at about $282,000. Finally, NovaPoint Capital LLC purchased a new stake in shares of Direxion Daily S&P 500 Bear 1x Shares during the 3rd quarter worth about $157,000.

About Direxion Daily S&P 500 Bear 1x Shares

The Direxion Daily S&P 500 Bear 1X Shares (SPDN) is an exchange-traded fund that is based on the S&P 500 index. The fund provides daily inverse exposure to the S&P 500, a market-cap-weighted index of 500 US large-cap firms selected by the S&Ps index committee. SPDN was launched on Jun 8, 2016 and is managed by Direxion.