Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares (NYSEARCA:DRIP) Short Interest Up 169.4% in April

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares (NYSEARCA:DRIP) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totaling 2,341,958 shares, a growth of 169.4% from the March 31st total of 869,271 shares. Currently, 10.3% of the shares of the stock are sold short. Based on an average trading volume of 39,392,831 shares, the short-interest ratio is currently 0.1 days.

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares Stock Up 1.7%

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares stock opened at $4.73 on Friday. Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares has a 1-year low of $3.77 and a 1-year high of $13.33. The firm’s 50 day simple moving average is $5.06 and its 200 day simple moving average is $7.29.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Group One Trading LLC raised its holdings in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 38.7% in the 3rd quarter. Group One Trading LLC now owns 6,625 shares of the company’s stock worth $57,000 after purchasing an additional 1,850 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 5,977.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,923 shares of the company’s stock worth $42,000 after purchasing an additional 4,842 shares in the last quarter. Virtu Financial LLC raised its holdings in 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 purchasing an additional 84,538 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 9.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 54,505 shares of the company’s stock worth $533,000 after purchasing an additional 4,826 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.