Direxion Daily Energy Bull 2X ETF (NYSEARCA:ERX – Get Free Report) shares fell 4.2% during trading on Tuesday. The company traded as low as $121.85 and last traded at $122.43. Approximately 455,002 shares traded hands during mid-day trading, an increase of 15% from the average session volume of 394,990 shares. The stock had previously closed at $127.80.
Direxion Daily Energy Bull 2X ETF Stock Down 4.2%
The firm has a market cap of $288.93 million, a price-to-earnings ratio of 14.85 and a beta of 0.95. The business’s 50-day simple moving average is $110.57 and its two-hundred day simple moving average is $92.21.
Hedge Funds Weigh In On Direxion Daily Energy Bull 2X ETF
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC purchased a new position in shares of Direxion Daily Energy Bull 2X ETF in the second quarter valued at approximately $1,579,000. Renaissance Technologies LLC increased its holdings in shares of Direxion Daily Energy Bull 2X ETF by 125.0% during the 1st quarter. Renaissance Technologies LLC now owns 9,900 shares of the company’s stock worth $1,020,000 after buying an additional 5,500 shares during the last quarter. IMC Chicago LLC purchased a new stake in Direxion Daily Energy Bull 2X ETF in the first quarter valued at $513,000. Toth Financial Advisory Corp purchased a new stake in Direxion Daily Energy Bull 2X ETF in the 3rd quarter valued at about $105,000. Finally, Root Financial Partners LLC acquired a new position in shares of Direxion Daily Energy Bull 2X ETF in the 3rd quarter worth approximately $41,000.
Direxion Daily Energy Bull 2X ETF 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.
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