Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) Sees Significant Growth in Short Interest

Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) was the target of a significant growth in short interest in March. As of March 13th, there was short interest totaling 307,803 shares, a growth of 38.6% from the February 26th total of 222,156 shares. Currently, 8.1% of the shares of the stock are short sold. Based on an average daily volume of 1,068,859 shares, the short-interest ratio is currently 0.3 days.

Direxion Daily Energy Bull 2x Shares Trading Down 1.9%

Shares of Direxion Daily Energy Bull 2x Shares stock opened at $105.77 on Tuesday. Direxion Daily Energy Bull 2x Shares has a twelve month low of $40.60 and a twelve month high of $110.78. The firm has a market capitalization of $402.98 million, a PE ratio of 14.85 and a beta of 1.54. The firm’s 50-day moving average price is $83.79 and its 200 day moving average price is $66.00.

Hedge Funds Weigh In On Direxion Daily Energy Bull 2x Shares

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Envestnet Asset Management Inc. boosted its stake in Direxion Daily Energy Bull 2x Shares by 7.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 101,016 shares of the company’s stock worth $5,694,000 after purchasing an additional 7,033 shares during the last quarter. HRT Financial LP purchased a new stake in shares of Direxion Daily Energy Bull 2x Shares during the fourth quarter worth $351,000. Simplex Trading LLC raised its position in shares of Direxion Daily Energy Bull 2x Shares by 403.2% in the fourth quarter. Simplex Trading LLC now owns 16,947 shares of the company’s stock valued at $946,000 after buying an additional 13,579 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Direxion Daily Energy Bull 2x Shares by 831.3% in the third quarter. Tower Research Capital LLC TRC now owns 9,434 shares of the company’s stock valued at $532,000 after buying an additional 8,421 shares during the last quarter. Finally, Two Sigma Securities LLC lifted its stake in shares of Direxion Daily Energy Bull 2x Shares by 26.2% in the second quarter. Two Sigma Securities LLC now owns 17,589 shares of the company’s stock worth $904,000 after buying an additional 3,656 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.