Direxion Daily Energy Bear 2X ETF (NYSEARCA:ERY) Sees Significant Decrease in Short Interest

Direxion Daily Energy Bear 2X ETF (NYSEARCA:ERY) was the recipient of a large decline in short interest in September. As of September 30th, there was short interest totaling 231,664 shares, a decline of 38.4% from the September 15th total of 375,987 shares. Based on an average daily volume of 19,569,672 shares, the days-to-cover ratio is currently 0.0 days. Currently, 4.4% of the company’s stock are sold short.

Direxion Daily Energy Bear 2X ETF Price Performance

NYSEARCA ERY traded down $0.40 during trading hours on Friday, hitting $7.68. 17,585,781 shares of the company were exchanged, compared to its average volume of 4,821,893. The company has a 50 day moving average of $8.97 and a two-hundred day moving average of $10.64. Direxion Daily Energy Bear 2X ETF has a 52-week low of $7.67 and a 52-week high of $22.24.

Hedge Funds Weigh In On Direxion Daily Energy Bear 2X ETF

A number of institutional investors and hedge funds have recently made changes to their positions in ERY. Allworth Financial LP grew its holdings in 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 worth $1,398,000 after acquiring an additional 70,000 shares in the last quarter. Virtu Financial LLC increased its position in Direxion Daily Energy Bear 2X ETF by 79.5% during the fourth quarter. Virtu Financial LLC now owns 51,324 shares of the exchange traded fund’s stock worth $1,021,000 after buying an additional 22,725 shares during the period. 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 increased its stake in Direxion Daily Energy Bear 2X ETF by 4,117.1% in the first quarter. Group One Trading LLC now owns 14,760 shares of the exchange traded fund’s stock valued at $152,000 after purchasing an additional 14,410 shares during the period.

About Direxion Daily Energy Bear 2X ETF

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.