Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) Trading 0.5% Higher – Here’s What Happened

Shares of Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) traded up 0.5% on Tuesday . The stock traded as high as $87.85 and last traded at $87.09. 283,170 shares were traded during trading, a decline of 38% from the average session volume of 454,395 shares. The stock had previously closed at $86.65.

Direxion Daily Energy Bull 2x Shares Trading Up 0.5%

The business has a 50-day moving average price of $85.88 and a 200-day moving average price of $82.63. The stock has a market cap of $227.30 million, a PE ratio of 14.85 and a beta of 0.82.

Hedge Funds Weigh In On Direxion Daily Energy Bull 2x Shares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. raised its position in shares of Direxion Daily Energy Bull 2x Shares by 237,263.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 111,561 shares of the company’s stock worth $6,231,000 after purchasing an additional 111,514 shares during the last quarter. Jump Financial LLC purchased a new position in Direxion Daily Energy Bull 2x Shares in the 2nd quarter valued at about $1,256,000. Simplex Trading LLC boosted its holdings in Direxion Daily Energy Bull 2x Shares by 403.2% in the 4th quarter. Simplex Trading LLC now owns 16,947 shares of the company’s stock worth $946,000 after buying an additional 13,579 shares during the last quarter. Two Sigma Securities LLC boosted its holdings in Direxion Daily Energy Bull 2x Shares by 26.2% in the 2nd quarter. Two Sigma Securities LLC now owns 17,589 shares of the company’s stock worth $904,000 after buying an additional 3,656 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Direxion Daily Energy Bull 2x Shares by 831.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 9,434 shares of the company’s stock worth $532,000 after buying an additional 8,421 shares during the last quarter.

About Direxion Daily Energy Bull 2x Shares

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