Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF (NYSEARCA:DRIP – Get Free Report) shares were down 0.4% during trading on Tuesday. The stock traded as low as $29.55 and last traded at $30.07. Approximately 903,871 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 2,116,927 shares. The stock had previously closed at $30.18.
Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF Trading Down 0.4%
The stock’s fifty day moving average price is $34.34 and its 200 day moving average price is $42.43.
Institutional Investors Weigh In On Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF
Several hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp bought a new position in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF in the 1st quarter worth about $414,000. IMC Chicago LLC bought a new position in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF during the first quarter valued at approximately $181,000. IFP Advisors Inc lifted its holdings 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 valued at $104,000 after buying an additional 4,700 shares during the period. Finally, Group One Trading LLC lifted its holdings in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF by 26.9% in the first quarter. Group One Trading LLC now owns 10,774 shares of the company’s stock valued at $45,000 after acquiring an additional 2,281 shares during the period.
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.
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