Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) Trading 0.5% Higher – Here’s Why

Shares of Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) rose 0.5% during mid-day trading on Tuesday . The stock traded as high as $87.85 and last traded at $87.09. 283,170 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 454,395 shares. The stock had previously closed at $86.65.

Direxion Daily Energy Bull 2x Shares Stock Performance

The firm has a market cap of $225.87 million, a P/E ratio of 14.85 and a beta of 0.82. The stock has a fifty day simple moving average of $85.83 and a 200 day simple moving average of $82.85.

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

Several large investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Direxion Daily Energy Bull 2x Shares by 237,263.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 111,561 shares of the company’s stock valued at $6,231,000 after purchasing an additional 111,514 shares during the last quarter. Jump Financial LLC purchased a new stake in Direxion Daily Energy Bull 2x Shares in the second quarter worth approximately $1,256,000. Simplex Trading LLC boosted its holdings in Direxion Daily Energy Bull 2x Shares by 403.2% in the fourth quarter. Simplex Trading LLC now owns 16,947 shares of the company’s stock worth $946,000 after purchasing an additional 13,579 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Direxion Daily Energy Bull 2x Shares by 831.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 9,434 shares of the company’s stock worth $532,000 after purchasing an additional 8,421 shares during the period. Finally, HRT Financial LP purchased a new stake in Direxion Daily Energy Bull 2x Shares during the 4th quarter valued at $351,000.

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.