Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares (NYSEARCA:DRIP) Sees Significant Increase in Short Interest

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares (NYSEARCA:DRIP) was the recipient of a significant increase in short interest in March. As of March 13th, there was short interest totaling 895,092 shares, an increase of 83.4% from the February 26th total of 488,144 shares. Currently, 14.4% of the company’s shares are short sold. Based on an average trading volume of 39,805,082 shares, the short-interest ratio is currently 0.0 days.

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

Several institutional investors and hedge funds have recently modified their holdings of DRIP. Group One Trading LLC increased its stake in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 123.5% during the 2nd quarter. Group One Trading LLC now owns 4,775 shares of the company’s stock worth $47,000 after purchasing an additional 2,639 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 5,977.8% in the third quarter. JPMorgan Chase & Co. now owns 4,923 shares of the company’s stock valued at $42,000 after buying an additional 4,842 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% in the second quarter. Tower Research Capital LLC TRC now owns 54,505 shares of the company’s stock valued at $533,000 after buying an additional 4,826 shares in the last quarter. Finally, Virtu Financial LLC boosted its holdings in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 65.7% in 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 during the period.

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

Shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares stock opened at $3.86 on Friday. The business has a 50-day moving average of $6.14 and a two-hundred day moving average of $7.84. Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares has a 1 year low of $3.85 and a 1 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.