Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF (NYSEARCA:DRIP – Get Free Report) shares crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $33.12 and traded as high as $37.29. Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF shares last traded at $36.56, with a volume of 3,327,256 shares trading hands.
Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF Stock Performance
The firm’s 50-day moving average is $33.12 and its 200-day moving average is $46.33.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Group One Trading LLC lifted its stake in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF by 26.9% in the 1st quarter. Group One Trading LLC now owns 10,774 shares of the company’s stock valued at $45,000 after purchasing an additional 2,281 shares during the period. IFP Advisors Inc boosted its position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF by 31.8% during the second quarter. IFP Advisors Inc now owns 19,496 shares of the company’s stock valued at $104,000 after purchasing an additional 4,700 shares in the last quarter. IMC Chicago LLC bought a new stake in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF during the first quarter valued at approximately $181,000. Finally, Bank of New York Mellon Corp purchased a new stake in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF in the first quarter worth $414,000.
About Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF
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.
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