Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares (NYSEARCA:DRIP) Short Interest Up 66.2% in December

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares (NYSEARCA:DRIP) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 423,483 shares, a growth of 66.2% from the December 15th total of 254,738 shares. Approximately 8.8% of the company’s stock are short sold. Based on an average daily volume of 3,751,275 shares, the short-interest ratio is currently 0.1 days. Based on an average daily volume of 3,751,275 shares, the short-interest ratio is currently 0.1 days. Approximately 8.8% of the company’s stock are short sold.

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

A number of hedge funds have recently bought and sold shares of DRIP. Virtu Financial LLC raised its stake in 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 valued at $1,826,000 after buying an additional 84,538 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in 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 worth $533,000 after purchasing an additional 4,826 shares during the last quarter. Group One Trading LLC boosted its holdings in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 38.7% in the third quarter. Group One Trading LLC now owns 6,625 shares of the company’s stock worth $57,000 after purchasing an additional 1,850 shares during the period. JPMorgan Chase & Co. increased its stake 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. Finally, Simplex Trading LLC acquired a new stake in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares during the second quarter worth $26,000.

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

Shares of DRIP remained flat at $8.44 during trading on Friday. The company’s stock had a trading volume of 4,201,928 shares, compared to its average volume of 8,231,476. The business’s fifty day moving average price is $8.62 and its two-hundred day moving average price is $8.99. Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares has a one year low of $7.54 and a one year high of $17.48.

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.