Direxion Daily Energy Bear 2X ETF (NYSEARCA:ERY) Shares Shorted: Short Interest Down 38.4% in September

Direxion Daily Energy Bear 2X ETF (NYSEARCA:ERY) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 231,664 shares, a decline of 38.4% from the September 15th total of 375,987 shares. Based on an average daily volume of 19,569,672 shares, the short-interest ratio is presently 0.0 days. Currently, 4.4% of the company’s shares are sold short.

Institutional Trading of Direxion Daily Energy Bear 2X ETF

A number of hedge funds and other institutional investors have recently modified their holdings of ERY. Allworth Financial LP boosted its holdings in Direxion Daily Energy Bear 2X ETF by 188.9% in the second quarter. Allworth Financial LP now owns 107,054 shares of the exchange traded fund’s stock valued at $1,398,000 after purchasing an additional 70,000 shares during the period. Virtu Financial LLC increased its position in shares of Direxion Daily Energy Bear 2X ETF by 79.5% in the 4th quarter. Virtu Financial LLC now owns 51,324 shares of the exchange traded fund’s stock valued at $1,021,000 after purchasing an additional 22,725 shares during the last quarter. Group One Trading LLC lifted its position in shares of Direxion Daily Energy Bear 2X ETF by 4,117.1% during the 1st quarter. Group One Trading LLC now owns 14,760 shares of the exchange traded fund’s stock worth $152,000 after purchasing an additional 14,410 shares during the last quarter. Finally, Archford Capital Strategies LLC purchased a new stake in shares of Direxion Daily Energy Bear 2X ETF during the 2nd quarter worth $559,000.

Direxion Daily Energy Bear 2X ETF Price Performance

NYSEARCA:ERY traded down $0.36 on Friday, reaching $7.72. The company’s stock had a trading volume of 15,294,693 shares, compared to its average volume of 4,807,424. Direxion Daily Energy Bear 2X ETF has a 12-month low of $7.70 and a 12-month high of $22.24. The stock has a 50 day moving average price of $9.04 and a 200 day moving average price of $10.66.

About Direxion Daily Energy Bear 2X ETF

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