Direxion Daily Energy Bear 2X ETF (NYSEARCA:ERY) Sees Significant Growth in Short Interest

Direxion Daily Energy Bear 2X ETF (NYSEARCA:ERY) was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totaling 667,299 shares, a growth of 188.0% from the September 30th total of 231,664 shares. Currently, 11.4% of the shares of the stock are short sold. Based on an average trading volume of 18,778,574 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Trading of Direxion Daily Energy Bear 2X ETF

Several hedge funds have recently added to or reduced their stakes in ERY. Allworth Financial LP grew its stake in shares of Direxion Daily Energy Bear 2X ETF by 188.9% during the second quarter. Allworth Financial LP now owns 107,054 shares of the exchange traded fund’s stock valued at $1,398,000 after buying an additional 70,000 shares during the last quarter. Archford Capital Strategies LLC bought a new stake in shares of Direxion Daily Energy Bear 2X ETF in the 2nd quarter valued at about $559,000. Finally, Group One Trading LLC lifted its stake in shares of Direxion Daily Energy Bear 2X ETF by 4,117.1% in the 1st quarter. Group One Trading LLC now owns 14,760 shares of the exchange traded fund’s stock valued at $152,000 after acquiring an additional 14,410 shares during the last quarter.

Direxion Daily Energy Bear 2X ETF Stock Performance

Shares of ERY opened at $7.29 on Friday. Direxion Daily Energy Bear 2X ETF has a fifty-two week low of $7.26 and a fifty-two week high of $21.73. The firm has a 50 day moving average price of $8.60 and a 200-day moving average price of $11.23.

About Direxion Daily Energy Bear 2X ETF

The Direxion Daily Energy Bear 2X Shares (ERY) is an exchange-traded fund that is based on the Energy Select Sector index. The fund provides 2x inverse exposure to a market-cap-weighted index of US large-cap companies in the energy industry. ERY was launched on Nov 6, 2008 and is managed by Direxion.