Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares (NYSEARCA:GUSH) Trading Up 2.5% – Here’s What Happened

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares (NYSEARCA:GUSH) were up 2.5% on Monday . The company traded as high as $41.23 and last traded at $40.54. Approximately 1,557,516 shares traded hands during mid-day trading, an increase of 0% from the average daily volume of 1,549,932 shares. The stock had previously closed at $39.54.

Key Headlines Impacting Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares

Here are the key news stories impacting Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares this week:

• Positive Sentiment: U.S. crude inventories posted a larger-than-expected draw, including a record 17.8 million-barrel withdrawal reported by the EIA, which underscores tight supply conditions that can support energy prices. US draws down record volumes of crude oil from stocks, EIA says
• Positive Sentiment: Another report showed U.S. commercial crude stocks fell by 7.9 million barrels, more than analysts expected, reinforcing a tighter-than-forecast oil market. U.S. Crude Oil Stockpiles Post Fourth Straight Weekly Draw
• Positive Sentiment: Investigations into suspicious oil futures trading before major Iran-related news highlight how sensitive the market remains to geopolitical supply disruptions, which can keep a risk premium in energy prices. US CFTC probes spike in oil futures trading before Trump postponed Iran strikes, WSJ reports
• Neutral Sentiment: Oil prices remain volatile as traders weigh peace-talk headlines, tanker movement through the Strait of Hormuz, and mixed commentary from the White House and market analysts. Oil Prices Fall After Reports Supertankers Are Moving Through Strait of Hormuz
• Negative Sentiment: Oil futures fell as traders bet the U.S. and Iran are nearing a deal, which would reduce the war-risk premium that had supported crude. Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Dives 5.5% As Traders Bet On Iran Deal
• Negative Sentiment: Reports that tanker traffic is resuming through the Strait of Hormuz and that U.S.-Iran diplomacy is cooling supply fears have pressured crude lower, weighing on energy-linked ETFs like GUSH. Metals recover as Iran talks cool oil, Fed minutes cap risk – Kitco PM Report

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares Stock Performance

The business has a 50 day moving average price of $39.36 and a two-hundred day moving average price of $30.34. The company has a market cap of $288.29 million, a P/E ratio of 8.13 and a beta of 1.09.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GUSH. Focus Partners Wealth bought a new position in Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares during the 1st quarter valued at approximately $547,000. Squarepoint Ops LLC raised its position in Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares by 84.3% during the 2nd quarter. Squarepoint Ops LLC now owns 57,348 shares of the company’s stock valued at $1,305,000 after purchasing an additional 26,233 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares by 38.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 41,308 shares of the company’s stock valued at $940,000 after purchasing an additional 11,519 shares during the last quarter. Group One Trading LLC raised its position in Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares by 67.7% during the 3rd quarter. Group One Trading LLC now owns 7,389 shares of the company’s stock valued at $182,000 after purchasing an additional 2,982 shares during the last quarter. Finally, SBI Securities Co. Ltd. raised its position in Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares by 40.0% during the 4th quarter. SBI Securities Co. Ltd. now owns 3,264 shares of the company’s stock valued at $71,000 after purchasing an additional 933 shares during the last quarter.

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares Company Profile

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.