Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) Shares Up 1.1% – Still a Buy?

Shares of Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) rose 1.1% during mid-day trading on Tuesday . The stock traded as high as $80.37 and last traded at $80.03. 186,936 shares traded hands during trading, a decline of 61% from the average session volume of 475,938 shares. The stock had previously closed at $79.17.

Direxion Daily Energy Bull 2x Shares Stock Up 1.8%

The business has a fifty day moving average price of $88.37 and a 200-day moving average price of $80.34. The company has a market cap of $229.54 million, a P/E ratio of 14.85 and a beta of 0.80.

Institutional Trading of Direxion Daily Energy Bull 2x Shares

Several institutional investors have recently added to or reduced their stakes in ERX. EverSource Wealth Advisors LLC increased its position in Direxion Daily Energy Bull 2x Shares by 17.9% during 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 during the period. Bank of America Corp DE acquired a new position in shares of Direxion Daily Energy Bull 2x Shares in the second quarter valued at about $116,000. Qube Research & Technologies Ltd grew its stake in shares of Direxion Daily Energy Bull 2x Shares by 679.8% in the third quarter. Qube Research & Technologies Ltd now owns 3,158 shares of the company’s stock valued at $178,000 after acquiring an additional 2,753 shares in the last quarter. Two Sigma Securities LLC increased its position in 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 worth $904,000 after acquiring an additional 3,656 shares during the period. Finally, NewEdge Advisors LLC bought a new position in Direxion Daily Energy Bull 2x Shares during the fourth quarter worth about $215,000.

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.