Direxion Daily Energy Bear 2X Shares (NYSEARCA:ERY) Short Interest Update

Direxion Daily Energy Bear 2X Shares (NYSEARCA:ERY) was the target of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 60,800 shares, a decline of 36.1% from the May 15th total of 95,100 shares. Based on an average daily volume of 311,900 shares, the days-to-cover ratio is presently 0.2 days. Approximately 8.5% of the company’s stock are short sold.

Institutional Investors Weigh In On Direxion Daily Energy Bear 2X Shares

A number of hedge funds have recently made changes to their positions in ERY. Jane Street Group LLC increased its position in Direxion Daily Energy Bear 2X Shares by 10.4% in the first quarter. Jane Street Group LLC now owns 28,900 shares of the exchange traded fund’s stock worth $594,000 after buying an additional 2,716 shares during the last quarter. Ethos Financial Group LLC bought a new position in shares of Direxion Daily Energy Bear 2X Shares during the 1st quarter worth $257,000. GTS Securities LLC increased its holdings in Direxion Daily Energy Bear 2X Shares by 31.0% in the 4th quarter. GTS Securities LLC now owns 95,172 shares of the exchange traded fund’s stock worth $2,402,000 after acquiring an additional 22,536 shares during the last quarter. Bank of America Corp DE bought a new stake in Direxion Daily Energy Bear 2X Shares in the 4th quarter valued at about $45,000. Finally, Tower Research Capital LLC TRC raised its stake in Direxion Daily Energy Bear 2X Shares by 126.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 35,783 shares of the exchange traded fund’s stock valued at $903,000 after acquiring an additional 20,010 shares during the period.

Direxion Daily Energy Bear 2X Shares Stock Performance

Direxion Daily Energy Bear 2X Shares stock traded down $0.65 during mid-day trading on Tuesday, reaching $21.06. 376,745 shares of the company’s stock were exchanged, compared to its average volume of 319,347. The business’s fifty day simple moving average is $24.65 and its 200 day simple moving average is $23.83. Direxion Daily Energy Bear 2X Shares has a one year low of $19.64 and a one year high of $31.02.

Direxion Daily Energy Bear 2X Shares Company Profile

The Direxion Daily Energy Bear 2X Shares (ERY) is an exchange-traded fund that is based on the Energy Select Sector index. The fund provides 2x inverse exposure to a market-cap-weighted index of US large-cap companies in the energy industry. ERY was launched on Nov 6, 2008 and is managed by Direxion.