Direxion Daily XOM Bear 1X Shares (NASDAQ:XOMZ) Trading Up 0.8% – Time to Buy?

Direxion Daily XOM Bear 1X Shares (NASDAQ:XOMZ) shot up 0.8% during mid-day trading on Tuesday . The stock traded as high as $17.59 and last traded at $17.44. 5,491 shares were traded during mid-day trading, an increase of 107% from the average session volume of 2,653 shares. The stock had previously closed at $17.30.

Direxion Daily XOM Bear 1X Shares Trading Up 0.8%

The stock’s 50-day moving average price is $19.87 and its 200 day moving average price is $22.21.

Direxion Daily XOM Bear 1X Shares Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 23rd were given a $0.1692 dividend. The ex-dividend date was Tuesday, December 23rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.9%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Direxion Daily XOM Bear 1X Shares stock. Bank of America Corp DE purchased a new position in shares of Direxion Daily XOM Bear 1X Shares (NASDAQ:XOMZ) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 25,000 shares of the company’s stock, valued at approximately $621,000. Bank of America Corp DE owned approximately 25.00% of Direxion Daily XOM Bear 1X Shares at the end of the most recent reporting period.

About Direxion Daily XOM Bear 1X Shares

Direxion Daily XOM Bear 1X Shares is an inverse exchange-traded fund (ETF) designed to seek daily investment results, before fees and expenses, of 100% of the inverse (opposite) of the performance of Exxon Mobil Corporation (NYSE: XOM) common shares. It provides investors with the ability to profit from or hedge against declines in Exxon Mobil’s stock price on a daily basis. This ETF is intended for experienced investors who understand the risks of inverse ETFs, including daily resetting and compounding effects, and who actively manage their positions.