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 decline in short interest during the month of August. As of August 31st, there was short interest totaling 115,900 shares, a decline of 28.4% from the August 15th total of 161,900 shares. Approximately 2.8% of the company’s stock are sold short. Based on an average daily trading volume, of 471,200 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily trading volume, of 471,200 shares, the days-to-cover ratio is presently 0.2 days. Approximately 2.8% of the company’s stock are sold short.

Direxion Daily Energy Bull 2x Shares Price Performance

ERX stock opened at $54.73 on Tuesday. The company has a market cap of $230.41 million, a price-to-earnings ratio of 14.85 and a beta of 3.14. The company has a fifty day moving average price of $53.81 and a 200 day moving average price of $52.94. Direxion Daily Energy Bull 2x Shares has a 12 month low of $40.60 and a 12 month high of $72.63.

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

Several institutional investors and hedge funds have recently made changes to their positions in ERX. Jump Financial LLC purchased a new position in Direxion Daily Energy Bull 2x Shares in the 2nd quarter valued at about $1,256,000. Envestnet Asset Management Inc. increased its position in Direxion Daily Energy Bull 2x Shares by 32.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 93,983 shares of the company’s stock worth $4,828,000 after purchasing an additional 22,882 shares in the last quarter. Simplex Trading LLC acquired a new stake in Direxion Daily Energy Bull 2x Shares during the 1st quarter worth approximately $1,149,000. Allworth Financial LP acquired a new stake in Direxion Daily Energy Bull 2x Shares in the second quarter valued at approximately $740,000. Finally, Freedom Investment Management Inc. grew its position in Direxion Daily Energy Bull 2x Shares by 27.9% in the second quarter. Freedom Investment Management Inc. now owns 20,025 shares of the company’s stock valued at $1,029,000 after acquiring an additional 4,371 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.