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

Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totaling 159,836 shares, an increase of 57.5% from the December 15th total of 101,461 shares. Approximately 4.3% of the company’s shares are sold short. Based on an average daily trading volume, of 211,041 shares, the short-interest ratio is presently 0.8 days. Based on an average daily trading volume, of 211,041 shares, the short-interest ratio is presently 0.8 days. Approximately 4.3% of the company’s shares are sold short.

Direxion Daily Energy Bull 2x Shares Stock Performance

Shares of NYSEARCA ERX traded up $0.19 during mid-day trading on Friday, reaching $63.15. The company had a trading volume of 192,947 shares, compared to its average volume of 434,895. The stock has a fifty day moving average of $57.38 and a two-hundred day moving average of $55.33. The company has a market capitalization of $234.29 million, a price-to-earnings ratio of 14.85 and a beta of 1.54. Direxion Daily Energy Bull 2x Shares has a 12-month low of $40.60 and a 12-month high of $67.11.

Institutional Investors Weigh In On Direxion Daily Energy Bull 2x Shares

A number of institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in shares of Direxion Daily Energy Bull 2x Shares by 17.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,650 shares of the company’s stock worth $85,000 after buying an additional 250 shares in the last quarter. Bank of America Corp DE bought a new stake in Direxion Daily Energy Bull 2x Shares during the 2nd quarter worth about $116,000. SBI Securities Co. Ltd. lifted its holdings in Direxion Daily Energy Bull 2x Shares by 105.8% in the second quarter. SBI Securities Co. Ltd. now owns 2,719 shares of the company’s stock valued at $140,000 after buying an additional 1,398 shares during the period. Qube Research & Technologies Ltd boosted its holdings in Direxion Daily Energy Bull 2x Shares by 679.8% during the third quarter. Qube Research & Technologies Ltd now owns 3,158 shares of the company’s stock worth $178,000 after buying an additional 2,753 shares during the last quarter. Finally, Atria Investments Inc increased its stake in Direxion Daily Energy Bull 2x Shares by 30.6% in the second quarter. Atria Investments Inc now owns 5,837 shares of the company’s stock valued at $300,000 after purchasing an additional 1,368 shares in the last quarter.

About Direxion Daily Energy Bull 2x Shares

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.