Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares (NYSEARCA:DRIP – Get Free Report) was the recipient of a large drop in short interest during the month of July. As of July 15th, there was short interest totaling 156,683 shares, a drop of 88.8% from the June 30th total of 1,404,916 shares. Approximately 6.3% of the shares of the company are sold short. Based on an average trading volume of 2,947,442 shares, the days-to-cover ratio is presently 0.1 days.
Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares Stock Performance
Shares of DRIP stock traded up $0.67 during trading hours on Friday, reaching $41.59. The company had a trading volume of 478,106 shares, compared to its average volume of 2,722,192. The business has a fifty day moving average price of $48.17 and a 200-day moving average price of $54.78. Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares has a one year low of $37.70 and a one year high of $104.22.
Institutional Investors Weigh In On Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Group One Trading LLC increased its position in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 123.5% during the second quarter. Group One Trading LLC now owns 4,775 shares of the company’s stock valued at $47,000 after acquiring an additional 2,639 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 5,977.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,923 shares of the company’s stock worth $42,000 after purchasing an additional 4,842 shares during the period. IMC Chicago LLC bought a new position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares in the 1st quarter worth approximately $181,000. Tower Research Capital LLC TRC boosted its holdings in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 9.7% in the second quarter. Tower Research Capital LLC TRC now owns 54,505 shares of the company’s stock worth $533,000 after buying an additional 4,826 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares in the first quarter worth approximately $414,000.
About Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares
The Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares (DRIP) is an exchange-traded fund that mostly invests in energy equity. The fund provides 2x inverse daily exposure to an equal-weighted index of the largest oil and gas exploration and production companies in the US. DRIP was launched on May 28, 2015 and is managed by Direxion.
Featured Stories
- Five stocks we like better than Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares
- RTX and Lockheed Earnings: Can Strong Guidance Reset the Defense Trade?
- These 4 Earnings Reports Expose the Market’s Growing Economic Divide
- Broadcom May Be the Biggest Winner From Alphabet’s Earnings
- Volatility Is Back and These 3 Market Tollbooths Are Best Positioned to Profit
Receive News & Ratings for Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares and related companies with MarketBeat.com's FREE daily email newsletter.
