Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares (NYSEARCA:DRIP) Short Interest Down 88.8% in July

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares (NYSEARCA:DRIP) was the recipient of a large drop in short interest in July. As of July 15th, there was short interest totaling 156,683 shares, a drop of 88.8% from the June 30th total of 1,404,916 shares. Currently, 6.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,947,442 shares, the days-to-cover ratio is currently 0.1 days.

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

A number of large investors have recently modified their holdings of the company. Group One Trading LLC lifted its position in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares by 123.5% in the 2nd quarter. Group One Trading LLC now owns 4,775 shares of the company’s stock worth $47,000 after buying an additional 2,639 shares during the last quarter. Tower Research Capital LLC TRC grew its position 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 valued at $533,000 after acquiring an additional 4,826 shares during the last quarter. JPMorgan Chase & Co. grew its position 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 acquiring an additional 4,842 shares during the last quarter. Virtu Financial LLC raised its stake in shares of 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 worth $1,826,000 after acquiring an additional 84,538 shares in the last quarter. Finally, IMC Chicago LLC purchased a new position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares during the first quarter worth approximately $181,000.

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares Stock Up 1.6%

NYSEARCA:DRIP traded up $0.67 during midday trading on Friday, hitting $41.59. The company had a trading volume of 478,106 shares, compared to its average volume of 2,722,192. The stock’s fifty day moving average price is $48.17 and its 200-day moving average price is $55.02. Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2x Shares has a 52-week low of $37.70 and a 52-week high of $104.22.

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.