Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares (NYSEARCA:GUSH) Stock Price Down 2.8% – Here’s What Happened

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares (NYSEARCA:GUSH)’s stock price were down 2.8% during mid-day trading on Monday . The company traded as low as $22.61 and last traded at $23.13. Approximately 947,240 shares changed hands during mid-day trading, a decline of 9% from the average daily volume of 1,042,784 shares. The stock had previously closed at $23.79.

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

The firm has a market capitalization of $230.37 million, a price-to-earnings ratio of 8.13 and a beta of 1.92. The business’s 50 day moving average is $23.45 and its 200-day moving average is $23.59.

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

Several large investors have recently made changes to their positions in the business. Squarepoint Ops LLC boosted its stake in Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares by 84.3% during the 2nd quarter. Squarepoint Ops LLC now owns 57,348 shares of the company’s stock valued at $1,305,000 after purchasing an additional 26,233 shares during the period. Focus Partners Wealth acquired a new position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares during the first quarter worth approximately $547,000. Tower Research Capital LLC TRC boosted its position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares by 38.7% in the second quarter. Tower Research Capital LLC TRC now owns 41,308 shares of the company’s stock valued at $940,000 after acquiring an additional 11,519 shares during the period. Finally, Group One Trading LLC boosted its position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares by 67.7% in the third quarter. Group One Trading LLC now owns 7,389 shares of the company’s stock valued at $182,000 after acquiring an additional 2,982 shares during the period.

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

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