Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF (NYSEARCA:GUSH) Shares Break Above Two Hundred Day Moving Average – Time to Sell?

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF (NYSEARCA:GUSH) crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $38.57 and traded as high as $40.01. Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF shares last traded at $39.94, with a volume of 474,281 shares changing hands.

Latest Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF News

Here’s some of the latest news about GUSH:

• Positive Sentiment: Middle East shipping disruptions and attacks on energy infrastructure have renewed concerns about supply interruptions, helping oil rebound and potentially supporting exploration-and-production shares. Oil Prices Rebound as Middle East Risks Offset U.S. Inventory Builds
• Neutral Sentiment: Oil prices have swung between gains and losses without a strong catalyst. Continued supply-risk headlines are countered by diplomacy hopes, leaving the near-term direction uncertain. Oil Moves Away From Session Highs
• Negative Sentiment: The International Energy Agency expects the global oil market to return to surplus in the final quarter as Gulf exports recover. That outlook, along with planned releases from emergency stocks, could pressure crude prices and energy shares. World Oil Market Is Returning to Surplus, IEA Says

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF Trading Up 2.1%

The company has a fifty day moving average of $45.46 and a two-hundred day moving average of $38.65. The stock has a market capitalization of $196.33 million, a price-to-earnings ratio of 8.13 and a beta of 1.15.

Hedge Funds Weigh In On Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF

A hedge fund recently bought a new stake in Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF stock. Group One Trading LLC acquired a new position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF (NYSEARCA:GUSH) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 20,241 shares of the company’s stock, valued at approximately $818,000. Group One Trading LLC owned 0.43% of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF at the end of the most recent quarter.

About Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF

The Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares (GUSH) is an exchange-traded fund that mostly invests in energy equity. The fund provides 2x daily exposure to an equal-weighted index of the largest oil and gas exploration and production companies in the US. GUSH was launched on May 28, 2015 and is managed by Direxion.