Direxion Daily Energy Bear 2X ETF (NYSEARCA:ERY) Stock Short Interest Jumps 188.0%

Direxion Daily Energy Bear 2X ETF (NYSEARCA:ERY – Get Free Report) was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totaling 667,299 shares, a growth of 188.0% from the September 30th total of 231,664 shares. Based on an average trading volume of 18,778,574 shares, the days-to-cover ratio is presently 0.0 days. Approximately 11.4% of the shares of the stock are short sold.

Direxion Daily Energy Bear 2X ETF Stock Performance

Shares of NYSEARCA:ERY traded down $0.29 during trading on Friday, reaching $7.29. The stock had a trading volume of 23,721,258 shares, compared to its average volume of 5,657,504. Direxion Daily Energy Bear 2X ETF has a 52 week low of $7.26 and a 52 week high of $21.73. The business’s 50-day moving average price is $8.64 and its 200 day moving average price is $11.28.

Institutional Trading of Direxion Daily Energy Bear 2X ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP raised its position in shares of Direxion Daily Energy Bear 2X ETF by 188.9% during the 2nd quarter. Allworth Financial LP now owns 107,054 shares of the exchange traded fund’s stock valued at $1,398,000 after acquiring an additional 70,000 shares during the last quarter. Archford Capital Strategies LLC acquired a new position in shares of Direxion Daily Energy Bear 2X ETF in the 2nd quarter valued at $559,000. Finally, Group One Trading LLC boosted its position in shares of Direxion Daily Energy Bear 2X ETF by 4,117.1% in the 1st quarter. Group One Trading LLC now owns 14,760 shares of the exchange traded fund’s stock worth $152,000 after purchasing an additional 14,410 shares during the last quarter.

About Direxion Daily Energy Bear 2X ETF

(Get Free Report)

The Direxion Daily Energy Bear 2X Shares (ERY) is an exchange-traded fund that is based on the Energy Select Sector index. The fund provides 2x inverse exposure to a market-cap-weighted index of US large-cap companies in the energy industry. ERY was launched on Nov 6, 2008 and is managed by Direxion.

Further Reading

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