Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) Sees Significant Drop in Short Interest

Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) was the recipient of a large decline in short interest during the month of December. As of December 15th, there was short interest totaling 101,461 shares, a decline of 15.6% from the November 30th total of 120,220 shares. Based on an average daily trading volume, of 184,155 shares, the short-interest ratio is presently 0.6 days. Approximately 2.5% of the shares of the company are short sold. Approximately 2.5% of the shares of the company are short sold. Based on an average daily trading volume, of 184,155 shares, the short-interest ratio is presently 0.6 days.

Institutional Investors Weigh In On Direxion Daily Energy Bull 2x Shares

Hedge funds have recently made changes to their positions in the business. Qube Research & Technologies Ltd lifted its stake in shares of Direxion Daily Energy Bull 2x Shares by 679.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 3,158 shares of the company’s stock valued at $178,000 after buying an additional 2,753 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Direxion Daily Energy Bull 2x Shares by 831.3% during the third quarter. Tower Research Capital LLC TRC now owns 9,434 shares of the company’s stock worth $532,000 after acquiring an additional 8,421 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Direxion Daily Energy Bull 2x Shares by 7.5% during the third quarter. Envestnet Asset Management Inc. now owns 101,016 shares of the company’s stock worth $5,694,000 after acquiring an additional 7,033 shares in the last quarter. Two Sigma Securities LLC boosted its holdings in shares of Direxion Daily Energy Bull 2x Shares by 26.2% in the second quarter. Two Sigma Securities LLC now owns 17,589 shares of the company’s stock worth $904,000 after acquiring an additional 3,656 shares during the period. Finally, Bank of America Corp DE purchased a new position in shares of Direxion Daily Energy Bull 2x Shares in the second quarter valued at $116,000.

Direxion Daily Energy Bull 2x Shares Trading Down 1.2%

Shares of ERX opened at $55.85 on Friday. The stock has a 50 day moving average of $55.98 and a 200 day moving average of $54.79. The company has a market capitalization of $226.75 million, a price-to-earnings ratio of 14.85 and a beta of 1.54. Direxion Daily Energy Bull 2x Shares has a 12 month low of $40.60 and a 12 month high of $67.11.

Direxion Daily Energy Bull 2x Shares Company Profile

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