Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares (NYSEARCA:DRIP) Short Interest Up 66.2% in December

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares (NYSEARCA:DRIP) was the target of a large increase in short interest in the month of December. As of December 31st, there was short interest totaling 423,483 shares, an increase of 66.2% from the December 15th total of 254,738 shares. Based on an average daily volume of 3,751,275 shares, the days-to-cover ratio is presently 0.1 days. Currently, 8.8% of the shares of the stock are sold short. Currently, 8.8% of the shares of the stock are sold short. Based on an average daily volume of 3,751,275 shares, the days-to-cover ratio is presently 0.1 days.

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares Stock Performance

DRIP stock opened at $8.44 on Friday. Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares has a 12 month low of $7.54 and a 12 month high of $17.48. The firm has a 50 day moving average of $8.62 and a 200-day moving average of $8.98.

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

A number of hedge funds have recently added to or reduced their stakes in the company. Simplex Trading LLC purchased a new stake in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares during the 2nd quarter valued at $26,000. JPMorgan Chase & Co. lifted its holdings in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 5,977.8% during the third quarter. JPMorgan Chase & Co. now owns 4,923 shares of the company’s stock valued at $42,000 after purchasing an additional 4,842 shares in the last quarter. Group One Trading LLC boosted its position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 123.5% during the second quarter. Group One Trading LLC now owns 4,775 shares of the company’s stock valued at $47,000 after buying an additional 2,639 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 9.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 54,505 shares of the company’s stock worth $533,000 after buying an additional 4,826 shares in the last quarter. Finally, Virtu Financial LLC increased its holdings in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 65.7% in the 3rd quarter. Virtu Financial LLC now owns 213,277 shares of the company’s stock worth $1,826,000 after buying an additional 84,538 shares in the last quarter.

About Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares

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