Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) Trading Up 0.7% – Time to Buy?

Shares of Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) shot up 0.7% on Monday . The company traded as high as $92.40 and last traded at $91.76. 378,957 shares traded hands during trading, a decline of 32% from the average session volume of 558,741 shares. The stock had previously closed at $91.11.

Direxion Daily Energy Bull 2x Shares Trading Up 0.7%

The company has a market cap of $349.61 million, a PE ratio of 14.85 and a beta of 1.54. The stock has a 50 day moving average price of $76.01 and a 200 day moving average price of $62.87.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in ERX. NewEdge Advisors LLC bought a new stake in shares of Direxion Daily Energy Bull 2x Shares during the 4th quarter valued at $215,000. HRT Financial LP bought a new position in shares of Direxion Daily Energy Bull 2x Shares in the 4th quarter worth about $351,000. Simplex Trading LLC lifted its position in Direxion Daily Energy Bull 2x Shares by 403.2% during the 4th quarter. Simplex Trading LLC now owns 16,947 shares of the company’s stock valued at $946,000 after acquiring an additional 13,579 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in 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 valued at $6,231,000 after acquiring an additional 111,514 shares during the period. Finally, Qube Research & Technologies Ltd boosted its stake in Direxion Daily Energy Bull 2x Shares by 679.8% during the third quarter. Qube Research & Technologies Ltd now owns 3,158 shares of the company’s stock worth $178,000 after acquiring an additional 2,753 shares in the last quarter.

Direxion Daily Energy Bull 2x Shares Company Profile

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.