Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares (NYSEARCA:GUSH) Trading Down 0.8% – Here’s Why

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares (NYSEARCA:GUSH)’s stock price dropped 0.8% on Thursday . The stock traded as low as $46.34 and last traded at $46.73. 631,906 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 1,224,980 shares. The stock had previously closed at $47.10.

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares Price Performance

The company has a market cap of $287.33 million, a PE ratio of 8.13 and a beta of 1.05. The company has a fifty day moving average price of $38.58 and a 200 day moving average price of $37.32.

Hedge Funds Weigh In On Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares

Institutional investors have recently made changes to their positions in the stock. Squarepoint Ops LLC lifted its holdings in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares by 84.3% during the 2nd quarter. Squarepoint Ops LLC now owns 57,348 shares of the company’s stock worth $1,305,000 after acquiring an additional 26,233 shares during the last quarter. Group One Trading LLC bought a new position in Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares in the first quarter valued at $2,398,000. Tower Research Capital LLC TRC raised its position in Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares by 1.5% during the third quarter. Tower Research Capital LLC TRC now owns 41,917 shares of the company’s stock valued at $1,031,000 after purchasing an additional 609 shares in the last quarter. Focus Partners Wealth purchased a new stake in Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares during the first quarter valued at about $547,000. Finally, SBI Securities Co. Ltd. lifted its stake in Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares by 40.0% during the fourth quarter. SBI Securities Co. Ltd. now owns 3,264 shares of the company’s stock worth $71,000 after purchasing an additional 933 shares during the last quarter.

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

The Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares (GUSH) is an exchange-traded fund that mostly invests in energy equity. The fund provides 2x daily exposure to an equal-weighted index of the largest oil and gas exploration and production companies in the US. GUSH was launched on May 28, 2015 and is managed by Direxion.