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

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares (NYSEARCA:DRIP) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totaling 361,600 shares, a growth of 48.0% from the September 15th total of 244,300 shares. Based on an average trading volume of 3,132,600 shares, the days-to-cover ratio is presently 0.1 days. Based on an average trading volume of 3,132,600 shares, the days-to-cover ratio is presently 0.1 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC lifted its holdings in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 9.7% during the second 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 in the last quarter. Group One Trading LLC lifted its holdings in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 123.5% during the second 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. Finally, Simplex Trading LLC bought a new position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares during the second quarter valued at $26,000.

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

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares stock opened at $8.94 on Friday. The business’s fifty day simple moving average is $8.97 and its two-hundred day simple moving average is $10.04. Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares has a 12 month low of $7.72 and a 12 month high of $17.48.

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

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.