HIBS - Daily S&P 500 High Beta Bear 3X Shares
| Assets | $19.84M |
| NAV | $14.59 |
| Expense Ratio | 1.07% |
| PE Ratio | n/a |
| Beta (5Y) | -3.33 |
| Dividend (ttm) | n/a |
| Dividend Yield | n/a |
| Ex-Dividend Date | Mar 24, 2020 |
| 1-Year Return | - |
| Trading Day | April 16 |
| Last Price | $14.59 |
| Previous Close | $14.61 |
| Change ($) | -0.02 |
| Change (%) | -0.14% |
| Day's Open | 14.30 |
| Day's Range | 14.10 - 14.70 |
| Day's Volume | 48,891 |
| 52-Week Range | 13.95 - 519.60 |
Fund Description
The investment seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the daily performance of the S&P 500® High Beta Index. The fund invests in swap agreements, futures contracts, short positions or other financial instruments that, in combination, provide inverse (opposite) or short leveraged exposure to the index equal to at least 80% of the fund's net assets. The index provider selects 100 securities to include in the index from the S&P 500® Index that have the highest sensitivity to market movements, or beta over the past 12 months as determined by the index provider. It is non-diversified.
| Asset Class Equity | Inception Date Nov 7, 2019 |
| Exchange NYSEARCA | Ticker Symbol HIBS |
| Index Tracked SP 500 High Beta Index | |
Dividends
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Mar 24, 2020 | $0.307 | Mar 31, 2020 |
| Dec 23, 2019 | $0.026 | Dec 31, 2019 |
Last week was downbeat for Wall Street. Simple profit-booking and some warnings from the too-big-to-fail companies probably led to this crash.
Inside the top-performing leveraged/inverse ETFs of the last week.
Last week was extremely volatile for Wall Street with the S&P 500, the Dow Jones and the Nasdaq losing about 2.5%, 1.7% and 4.1%, respectively.
President Donald Trump has warned America to brace for a "very, very painful two weeks" that will continue to raise the appeal for inverse or inverse leveraged ETFs.
The coronavirus pandemic has resulted in strong demand for inverse or inverse leveraged ETFs as investors can seek higher returns in a short time span.
With the S&P 500 having an awful week, it's fair to say there is money to be made on the downside in the current market environment.
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Direxion recently launched the Direxion Daily S&P 500® High Beta Bull and Bear 3X Shares – HIBL and HIBS.