Direxion Daily S&P 500 High Beta Bear 3X ETF
HIBS
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Address
- 1301 Avenue of the Americas, 28th Floor New York City NY United States of America 10019
- IPO Date
- Nov 7, 2019
- CIK
- 0001424958
- Website
- direxion.com
- Similar Companies
- Business
- Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS) is an exchange-traded fund that seeks daily investment results, before fees and expenses, of 300% of the inverse (i.e., -300%) of the daily performance of the S&P 500 High Beta Index. The fund provides leveraged inverse exposure to high beta stocks within the S&P 500 universe; it utilizes swap agreements, futures contracts, and other financial instruments to achieve its objectives. HIBS targets sophisticated investors seeking short-term trading opportunities in volatile market conditions, with a focus on high-beta equities characterized by greater sensitivity to broader market movements. The S&P 500 High Beta Index tracks the 100 securities from the S&P 500 with the highest sensitivity to market fluctuations, rebalanced quarterly; Direxion employs financial derivatives including total return swaps on the index, short-term U.S. Treasury securities, and money market instruments for collateral. As a product of Direxion Shares ETF Trust, founded in 1997 and headquartered in Rye Brook, New York, HIBS operates primarily in the U.S. financial markets through major exchanges like NYSE Arca. The fund maintains no subsidiaries and is issued under the Rafferty Asset Management, LLC umbrella as sponsor. In recent developments, Direxion launched enhancements to its leveraged ETF suite in 2024, including expanded high-beta offerings amid heightened market volatility; the firm also announced strategic partnerships with liquidity providers to improve intraday trading efficiency for products like HIBS. No major acquisitions or name changes have occurred for HIBS within the last two years, though Direxion reorganized certain share classes in inverse and leveraged funds to optimize costs in Q3 2025. These changes support ongoing expansions into thematic leveraged strategies targeting retail and institutional traders globally.