Short Interest in Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) Drops By 21.2%

Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) was the recipient of a large drop in short interest in January. As of January 30th, there was short interest totaling 183,663 shares, a drop of 21.2% from the January 15th total of 233,206 shares. Based on an average trading volume of 349,426 shares, the days-to-cover ratio is presently 0.5 days. Currently, 4.8% of the company’s stock are short sold. Currently, 4.8% of the company’s stock are short sold. Based on an average trading volume of 349,426 shares, the days-to-cover ratio is presently 0.5 days.

Direxion Daily Energy Bull 2x Shares Stock Performance

Shares of ERX stock traded down $2.43 during mid-day trading on Tuesday, hitting $79.00. 265,825 shares of the stock were exchanged, compared to its average volume of 437,374. The stock’s fifty day simple moving average is $64.08 and its two-hundred day simple moving average is $58.14. Direxion Daily Energy Bull 2x Shares has a 12-month low of $40.60 and a 12-month high of $84.10. The stock has a market capitalization of $301.01 million, a price-to-earnings ratio of 14.85 and a beta of 1.54.

Hedge Funds Weigh In On Direxion Daily Energy Bull 2x Shares

A number of hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its holdings in shares of Direxion Daily Energy Bull 2x Shares by 17.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,650 shares of the company’s stock valued at $85,000 after buying an additional 250 shares during the period. Atria Investments Inc grew its holdings in Direxion Daily Energy Bull 2x Shares by 30.6% during the second quarter. Atria Investments Inc now owns 5,837 shares of the company’s stock worth $300,000 after acquiring an additional 1,368 shares during the period. SBI Securities Co. Ltd. raised its position in Direxion Daily Energy Bull 2x Shares by 105.8% in the second quarter. SBI Securities Co. Ltd. now owns 2,719 shares of the company’s stock worth $140,000 after acquiring an additional 1,398 shares in the last quarter. Bank of America Corp DE acquired a new stake in Direxion Daily Energy Bull 2x Shares in the second quarter valued at $116,000. Finally, Qube Research & Technologies Ltd boosted its position in shares of Direxion Daily Energy Bull 2x Shares by 679.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 3,158 shares of the company’s stock worth $178,000 after purchasing an additional 2,753 shares in the last quarter.

About Direxion Daily Energy Bull 2x Shares

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.