Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares (NYSEARCA:DRIP) Sees Significant Decline in Short Interest

by · The Markets Daily

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares (NYSEARCA:DRIP – Get Free Report) saw a large drop in short interest in February. As of February 27th, there was short interest totaling 488,144 shares, a drop of 41.8% from the February 12th total of 839,059 shares. Approximately 7.9% of the company’s stock are short sold. Based on an average trading volume of 17,353,892 shares, the days-to-cover ratio is currently 0.0 days. Based on an average trading volume of 17,353,892 shares, the days-to-cover ratio is currently 0.0 days. Approximately 7.9% of the company’s stock are short sold.

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

Several institutional investors have recently made changes to their positions in DRIP. JPMorgan Chase & Co. lifted its stake in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 5,977.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,923 shares of the company’s stock valued at $42,000 after purchasing an additional 4,842 shares during the period. Group One Trading LLC increased its stake in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 123.5% during the second quarter. Group One Trading LLC now owns 4,775 shares of the company’s stock valued at $47,000 after buying an additional 2,639 shares during the period. Simplex Trading LLC purchased a new position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares in the second quarter worth about $26,000. Virtu Financial LLC raised its position in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 65.7% during the third quarter. Virtu Financial LLC now owns 213,277 shares of the company’s stock worth $1,826,000 after acquiring an additional 84,538 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 9.7% in the second quarter. Tower Research Capital LLC TRC now owns 54,505 shares of the company’s stock valued at $533,000 after purchasing an additional 4,826 shares during the period.

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

Shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares stock traded down $0.23 during trading on Thursday, hitting $4.90. The company’s stock had a trading volume of 18,321,094 shares, compared to its average volume of 16,111,091. Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares has a 52 week low of $4.89 and a 52 week high of $17.48. The stock has a 50-day moving average price of $7.16 and a two-hundred day moving average price of $8.21.

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares 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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