Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) Stock Price Down 0.6% – Should You Sell?

Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX)’s stock price were down 0.6% during trading on Monday . The stock traded as low as $54.52 and last traded at $54.73. Approximately 185,497 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 412,992 shares. The stock had previously closed at $55.05.

Direxion Daily Energy Bull 2x Shares Stock Performance

The firm has a market cap of $230.41 million, a P/E ratio of 14.85 and a beta of 3.14. The firm’s fifty day moving average price is $53.81 and its 200 day moving average price is $52.94.

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

Large investors have recently modified their holdings of the business. Envestnet Asset Management Inc. raised its holdings in shares of Direxion Daily Energy Bull 2x Shares by 13.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 71,101 shares of the company’s stock valued at $4,641,000 after purchasing an additional 8,291 shares in the last quarter. Simplex Trading LLC bought a new stake in shares of Direxion Daily Energy Bull 2x Shares in the 1st quarter valued at about $1,149,000. Jump Financial LLC bought a new stake in shares of Direxion Daily Energy Bull 2x Shares in the 2nd quarter valued at about $1,256,000. Two Sigma Securities LLC raised its holdings in shares of Direxion Daily Energy Bull 2x Shares by 26.2% in the 2nd quarter. Two Sigma Securities LLC now owns 17,589 shares of the company’s stock valued at $904,000 after purchasing an additional 3,656 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of Direxion Daily Energy Bull 2x Shares in the 2nd quarter valued at about $116,000.

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.