Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares (NYSEARCA:DRIP) Short Interest Update

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares (NYSEARCA:DRIP) saw a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 895,092 shares, a growth of 83.4% from the February 26th total of 488,144 shares. Based on an average trading volume of 39,805,082 shares, the days-to-cover ratio is currently 0.0 days. Approximately 14.4% of the shares of the company are short sold.

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

NYSEARCA:DRIP opened at $3.99 on Friday. Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares has a 1 year low of $3.90 and a 1 year high of $17.48. The business has a fifty day moving average of $6.23 and a 200-day moving average of $7.89.

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

Several large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its holdings in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 5,977.8% in the third quarter. JPMorgan Chase & Co. now owns 4,923 shares of the company’s stock valued at $42,000 after acquiring an additional 4,842 shares in the last quarter. Group One Trading LLC boosted its stake in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 123.5% during the 2nd quarter. Group One Trading LLC now owns 4,775 shares of the company’s stock valued at $47,000 after purchasing an additional 2,639 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 9.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 54,505 shares of the company’s stock valued at $533,000 after purchasing an additional 4,826 shares during the period. Finally, Virtu Financial LLC raised its stake in shares of 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.

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

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.