IMC Chicago LLC Invests $181,000 in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares $DRIP

IMC Chicago LLC purchased a new position in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares (NYSEARCA:DRIP) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 43,770 shares of the company’s stock, valued at approximately $181,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Virtu Financial LLC grew its holdings in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 65.7% during the 3rd quarter. Virtu Financial LLC now owns 213,277 shares of the company’s stock worth $1,826,000 after acquiring an additional 84,538 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 9.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 54,505 shares of the company’s stock worth $533,000 after purchasing an additional 4,826 shares during the last quarter. Group One Trading LLC raised its stake in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 28.2% in the 4th quarter. Group One Trading LLC now owns 8,493 shares of the company’s stock valued at $77,000 after purchasing an additional 1,868 shares in the last quarter. Finally, JPMorgan Chase & Co. raised 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 valued at $42,000 after purchasing an additional 4,842 shares in the last quarter.

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares Stock Down 1.9%

Shares of DRIP stock opened at $45.61 on Friday. 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. The company’s 50-day simple moving average is $48.65 and its 200-day simple moving average is $56.77.

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares Profile

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.