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

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares (NYSEARCA:DRIP) saw a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 680,864 shares, a growth of 60.8% from the December 31st total of 423,483 shares. Approximately 13.9% of the shares of the company are short sold. Based on an average daily trading volume, of 8,634,471 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 8,634,471 shares, the days-to-cover ratio is presently 0.1 days. Approximately 13.9% of the shares of the company are short sold.

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

Several large investors have recently added to or reduced their stakes in DRIP. Simplex Trading LLC acquired a new stake in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares during the 2nd quarter valued at $26,000. JPMorgan Chase & Co. boosted its position in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 5,977.8% during the third 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 last quarter. Group One Trading LLC grew its stake in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 123.5% in the second quarter. Group One Trading LLC now owns 4,775 shares of the company’s stock valued at $47,000 after purchasing an additional 2,639 shares in the last quarter. Tower Research Capital LLC TRC raised its stake 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 worth $533,000 after purchasing an additional 4,826 shares in the last quarter. Finally, Virtu Financial LLC lifted its holdings in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 65.7% during the 3rd quarter. Virtu Financial LLC now owns 213,277 shares of the company’s stock valued at $1,826,000 after buying an additional 84,538 shares during the last quarter.

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

Shares of NYSEARCA DRIP traded down $0.14 during midday trading on Friday, reaching $7.28. 10,100,718 shares of the company traded hands, compared to its average volume of 7,967,021. The stock has a 50-day moving average price of $8.50 and a 200 day moving average price of $8.89. Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares has a 52 week low of $7.03 and a 52 week high of $17.48.

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

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.