Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares Target of Unusually High Options Trading (NYSEARCA:DRIP)

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares (NYSEARCA:DRIP) was the target of some unusual options trading on Wednesday. Traders acquired 2,488 call options on the stock. This represents an increase of approximately 187% compared to the average volume of 866 call options.

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares Stock Up 12.9%

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares stock traded up $0.54 during trading hours on Wednesday, hitting $4.73. 13,844,516 shares of the stock traded hands, compared to its average volume of 22,182,941. The firm’s 50 day moving average price is $5.61 and its 200-day moving average price is $7.61. Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares has a 1 year low of $3.77 and a 1 year high of $17.48.

Institutional Trading of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares

Several large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC grew its stake in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 65.7% during the 3rd quarter. Virtu Financial LLC now owns 213,277 shares of the company’s stock valued at $1,826,000 after purchasing an additional 84,538 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in 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 last quarter. Group One Trading LLC grew its stake in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 28.2% during the 4th quarter. Group One Trading LLC now owns 8,493 shares of the company’s stock valued at $77,000 after purchasing an additional 1,868 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in 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.

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.