Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) Sees Large Growth in Short Interest

Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) was the recipient of a significant increase in short interest in December. As of December 31st, there was short interest totaling 159,836 shares, an increase of 57.5% from the December 15th total of 101,461 shares. Approximately 4.3% of the company’s stock are sold short. Based on an average daily volume of 211,041 shares, the days-to-cover ratio is presently 0.8 days. Based on an average daily volume of 211,041 shares, the days-to-cover ratio is presently 0.8 days. Approximately 4.3% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Jump Financial LLC bought a new position in Direxion Daily Energy Bull 2x Shares in the second quarter valued at about $1,256,000. Envestnet Asset Management Inc. grew its stake in Direxion Daily Energy Bull 2x Shares by 32.2% during the second quarter. Envestnet Asset Management Inc. now owns 93,983 shares of the company’s stock worth $4,828,000 after purchasing an additional 22,882 shares during the period. Allworth Financial LP acquired a new position in shares of Direxion Daily Energy Bull 2x Shares during the second quarter valued at about $740,000. Tower Research Capital LLC TRC raised its position in shares of Direxion Daily Energy Bull 2x Shares by 831.3% during the third 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, Freedom Investment Management Inc. lifted its stake in shares of Direxion Daily Energy Bull 2x Shares by 27.9% in the second quarter. Freedom Investment Management Inc. now owns 20,025 shares of the company’s stock valued at $1,029,000 after buying an additional 4,371 shares in the last quarter.

Direxion Daily Energy Bull 2x Shares Stock Performance

ERX traded up $0.19 during trading hours on Friday, reaching $63.15. The company’s stock had a trading volume of 192,947 shares, compared to its average volume of 434,895. The firm has a market cap of $234.29 million, a PE ratio of 14.85 and a beta of 1.54. The company’s 50-day moving average is $57.38 and its 200-day moving average is $55.33. Direxion Daily Energy Bull 2x Shares has a 52 week low of $40.60 and a 52 week high of $67.11.

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.