Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) Short Interest Update

Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) was the target of a large drop in short interest in the month of December. As of December 15th, there was short interest totaling 101,461 shares, a drop of 15.6% from the November 30th total of 120,220 shares. Based on an average trading volume of 184,155 shares, the days-to-cover ratio is presently 0.6 days. Currently, 2.5% of the company’s stock are sold short. Currently, 2.5% of the company’s stock are sold short. Based on an average trading volume of 184,155 shares, the days-to-cover ratio is presently 0.6 days.

Direxion Daily Energy Bull 2x Shares Trading Down 1.2%

Shares of NYSEARCA:ERX traded down $0.68 during trading on Thursday, reaching $55.85. The stock had a trading volume of 167,182 shares, compared to its average volume of 377,551. The firm’s 50-day simple moving average is $55.98 and its 200 day simple moving average is $54.78. Direxion Daily Energy Bull 2x Shares has a one year low of $40.60 and a one year high of $67.11. The company has a market capitalization of $226.75 million, a P/E ratio of 14.85 and a beta of 1.54.

Hedge Funds Weigh In On Direxion Daily Energy Bull 2x Shares

Several institutional investors and hedge funds have recently bought and sold shares of ERX. EverSource Wealth Advisors LLC raised its stake in shares of Direxion Daily Energy Bull 2x Shares by 17.9% in the second quarter. EverSource Wealth Advisors LLC now owns 1,650 shares of the company’s stock worth $85,000 after purchasing an additional 250 shares during the last quarter. Bank of America Corp DE acquired a new position in Direxion Daily Energy Bull 2x Shares in the 2nd quarter worth approximately $116,000. SBI Securities Co. Ltd. raised its position in Direxion Daily Energy Bull 2x Shares by 105.8% during the 2nd quarter. SBI Securities Co. Ltd. now owns 2,719 shares of the company’s stock worth $140,000 after buying an additional 1,398 shares during the last quarter. Qube Research & Technologies Ltd raised its position in Direxion Daily Energy Bull 2x Shares by 679.8% during the 3rd 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 lifted its stake in Direxion Daily Energy Bull 2x Shares by 30.6% during the 2nd quarter. Atria Investments Inc now owns 5,837 shares of the company’s stock valued at $300,000 after acquiring an additional 1,368 shares during the period.

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.