Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF (NYSEARCA:DRIP) Stock Breaks Above Fifty Day Moving Average – Time to Sell?

by · The Cerbat Gem

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF (NYSEARCA:DRIP – Get Free Report) shares passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $33.12 and traded as high as $37.29. Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF shares last traded at $36.56, with a volume of 3,327,256 shares.

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF Trading Up 12.7%

The company’s 50-day simple moving average is $33.12 and its two-hundred day simple moving average is $46.33.

Institutional Investors Weigh In On Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF

A number of large investors have recently made changes to their positions in the business. Group One Trading LLC raised its holdings in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF by 26.9% during the first quarter. Group One Trading LLC now owns 10,774 shares of the company’s stock valued at $45,000 after acquiring an additional 2,281 shares in the last quarter. IFP Advisors Inc boosted its holdings in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF by 31.8% in the second quarter. IFP Advisors Inc now owns 19,496 shares of the company’s stock valued at $104,000 after acquiring an additional 4,700 shares in the last quarter. IMC Chicago LLC bought a new stake in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF in the first quarter valued at $181,000. Finally, Bank of New York Mellon Corp bought a new stake in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF in the first quarter valued at $414,000.

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF Company Profile

(Get Free Report)

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.

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