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

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares (NYSEARCA:DRIP) was the recipient of a significant decrease in short interest in 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. Currently, 4.8% of the shares of the company are short sold. Based on an average daily volume of 3,884,919 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 3,884,919 shares, the days-to-cover ratio is currently 0.1 days. Currently, 4.8% of the shares of the company are short sold.

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

NYSEARCA:DRIP traded up $0.14 during mid-day trading on Friday, reaching $9.20. The company’s stock had a trading volume of 1,856,547 shares, compared to its average volume of 3,028,825. The firm’s fifty day moving average price is $8.75 and its two-hundred day moving average price is $9.04. 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.

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

Large investors have recently added to or reduced their stakes in the stock. Group One Trading LLC boosted its stake in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 38.7% in the 3rd quarter. Group One Trading LLC now owns 6,625 shares of the company’s stock worth $57,000 after buying an additional 1,850 shares during the last quarter. Simplex Trading LLC bought a new position in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares in the second quarter valued at about $26,000. Tower Research Capital LLC TRC grew 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 valued at $533,000 after purchasing an additional 4,826 shares during the period. JPMorgan Chase & Co. increased its position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 5,977.8% during the 3rd 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. Finally, Virtu Financial LLC lifted its stake in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 65.7% in the 3rd 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.

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.