Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF (NYSEARCA:DRIP – Get Free Report) was the target of a large drop in short interest during the month of September. As of September 15th, there was short interest totaling 95,740 shares, a drop of 52.3% from the August 31st total of 200,750 shares. Currently, 2.6% of the shares of the company are short sold. Based on an average daily volume of 920,086 shares, the short-interest ratio is presently 0.1 days.
Hedge Funds Weigh In On Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF
Several institutional investors and hedge funds have recently modified their holdings of DRIP. IMC Chicago LLC acquired a new stake in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF in the 1st quarter worth about $181,000. Bank of New York Mellon Corp bought a new stake in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF in the 1st quarter valued at about $414,000. IFP Advisors Inc grew its position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF by 31.8% during the 2nd quarter. IFP Advisors Inc now owns 19,496 shares of the company’s stock worth $104,000 after purchasing an additional 4,700 shares in the last quarter. Finally, Group One Trading LLC grew its position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF by 26.9% during the 1st quarter. Group One Trading LLC now owns 10,774 shares of the company’s stock worth $45,000 after purchasing an additional 2,281 shares in the last quarter.
Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF Stock Performance
NYSEARCA DRIP traded up $0.61 on Tuesday, reaching $37.85. The stock had a trading volume of 635,331 shares, compared to its average volume of 2,224,562. The firm has a fifty day moving average of $37.27 and a two-hundred day moving average of $43.77. Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF has a 1-year low of $30.52 and a 1-year high of $99.00.
About Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF
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.
See Also
- Five stocks we like better than Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF
- CarMax Just Gave Investors a Better Reason to Believe in the Turnaround
- CoreWeave Comes With Risks: Analysts Split on What Matters Most
- Bottlenecking the Future: TSMC Prices Out the Competition
- Fervo Energy Hits Geothermal Milestone: Will It Matter For The Stock?
Receive News & Ratings for Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF 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 ETF and related companies with MarketBeat.com's FREE daily email newsletter.
