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

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

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares Stock 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 were exchanged, compared to its average volume of 3,028,825. Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares has a fifty-two week low of $7.54 and a fifty-two week high of $17.48. The business’s 50 day simple moving average is $8.75 and its 200 day simple moving average is $9.03.

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

Institutional investors and hedge funds have recently bought and sold shares of the business. 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 worth approximately $26,000. JPMorgan Chase & Co. increased its position in 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 buying an additional 4,842 shares during the period. Group One Trading LLC lifted 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 buying an additional 2,639 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 9.7% during the second quarter. Tower Research Capital LLC TRC now owns 54,505 shares of the company’s stock valued at $533,000 after acquiring an additional 4,826 shares during the period. Finally, Virtu Financial LLC grew its position in shares of 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 last quarter.

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.