Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) Sees Significant Decrease in Short Interest

Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) saw a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 161,928 shares, a decline of 41.8% from the April 30th total of 278,434 shares. Based on an average daily trading volume, of 345,562 shares, the days-to-cover ratio is presently 0.5 days. Approximately 5.6% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ERX. Northwestern Mutual Wealth Management Co. increased its position in shares of Direxion Daily Energy Bull 2x Shares by 237,263.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 111,561 shares of the company’s stock valued at $6,231,000 after purchasing an additional 111,514 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Direxion Daily Energy Bull 2x Shares by 7.5% during the third quarter. Envestnet Asset Management Inc. now owns 101,016 shares of the company’s stock valued at $5,694,000 after purchasing an additional 7,033 shares during the period. Jump Financial LLC bought a new stake in shares of Direxion Daily Energy Bull 2x Shares during the second quarter valued at approximately $1,256,000. Two Sigma Securities LLC increased its position in shares of Direxion Daily Energy Bull 2x Shares by 26.2% during the second quarter. Two Sigma Securities LLC now owns 17,589 shares of the company’s stock valued at $904,000 after purchasing an additional 3,656 shares during the period. Finally, Simplex Trading LLC increased its position in shares of Direxion Daily Energy Bull 2x Shares by 403.2% during the fourth quarter. Simplex Trading LLC now owns 16,947 shares of the company’s stock valued at $946,000 after purchasing an additional 13,579 shares during the period.

Direxion Daily Energy Bull 2x Shares Stock Up 3.5%

Shares of ERX stock opened at $88.33 on Tuesday. Direxion Daily Energy Bull 2x Shares has a 12 month low of $47.50 and a 12 month high of $110.78. The firm has a market cap of $257.04 million, a PE ratio of 14.85 and a beta of 0.86. The stock has a 50 day moving average of $92.71 and a 200-day moving average of $76.94.

Direxion Daily Energy Bull 2x Shares Company Profile

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