Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares (NYSEARCA:DRIP) Short Interest Down 48.8% in December

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares (NYSEARCA:DRIP) was the target of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totaling 254,738 shares, a decrease of 48.8% from the November 30th total of 497,914 shares. Based on an average daily trading volume, of 3,884,919 shares, the short-interest ratio is currently 0.1 days. Currently, 4.8% of the shares of the company are short sold. Currently, 4.8% of the shares of the company are short sold. Based on an average daily trading volume, of 3,884,919 shares, the short-interest ratio is currently 0.1 days.

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares Trading Up 1.5%

Shares of DRIP stock traded up $0.14 during mid-day trading on Friday, reaching $9.20. 1,856,547 shares of the company’s stock traded hands, compared to its average volume of 3,028,825. Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares has a 12 month low of $7.54 and a 12 month high of $17.48. The firm has a 50 day moving average price of $8.75 and a two-hundred day moving average price of $9.04.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Group One Trading LLC increased its holdings in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 123.5% in the 2nd quarter. Group One Trading LLC now owns 4,775 shares of the company’s stock worth $47,000 after acquiring an additional 2,639 shares in the last quarter. Simplex Trading LLC bought a new position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares in the second quarter worth approximately $26,000. Virtu Financial LLC boosted its position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 65.7% in the third quarter. Virtu Financial LLC now owns 213,277 shares of the company’s stock worth $1,826,000 after purchasing an additional 84,538 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 5,977.8% in the third quarter. JPMorgan Chase & Co. now owns 4,923 shares of the company’s stock worth $42,000 after purchasing an additional 4,842 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 9.7% during the 2nd 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.

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

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.