Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares (NYSEARCA:GUSH) Trading 0.5% Higher – Here’s What Happened

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares (NYSEARCA:GUSH)’s stock price rose 0.5% during trading on Thursday . The stock traded as high as $40.77 and last traded at $40.63. Approximately 494,462 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 1,283,615 shares. The stock had previously closed at $40.42.

Key Stories Impacting Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares

Here are the key news stories impacting Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares this week:

• Positive Sentiment: Reports of oil slicks in Iranian waters and a worsening spill near Oman, combined with attacks on tankers in the Gulf region, are increasing concern about supply interruptions and supporting oil prices. Two slicks appear in Gulf as huge oil spill off Oman threatens disaster
• Positive Sentiment: Persistent risks around the Strait of Hormuz and tight availability of refinery feedstocks are providing an oil-price floor, despite signs of softer demand. A Malaysian refinery’s fuel-oil shipment to the U.S. highlights ongoing supply-chain dislocations. Natural Gas and Oil Forecast: Weak Demand Clashes With Persistent Hormuz Risks
• Positive Sentiment: A technical falling-wedge breakout suggests crude could recover further, which would be constructive for leveraged oil-and-gas producers and GUSH, although major moving-average resistance remains ahead. Crude Oil Price Forecast: Falling Wedge Points to Larger Recovery
• Neutral Sentiment: WTI and Brent are stalling near their 50-day exponential moving averages as traders remain cautious, leaving the near-term direction dependent on further Middle East headlines. Crude Oil Price Forecast – WTI and Brent Stall at 50-Day EMAs Amid Geopolitical Caution
• Negative Sentiment: A reported 17.4-million-barrel U.S. crude inventory build, increased imports, falling exports and weaker demand expectations are bearish for oil and could pressure GUSH. Natural Gas and Oil Forecast: 17.4M-Barrel Crude Build Weighs as Hormuz Risks Persist
• Negative Sentiment: Oil has pulled back as traders see a greater chance of economic pressure leading Iran toward negotiations, reducing the immediate risk of military escalation and supply disruption. Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Pulls Back As Risks of Military Escalation Decline

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

The stock has a 50-day moving average of $34.97 and a 200 day moving average of $35.51. The stock has a market cap of $258.35 million, a PE ratio of 8.13 and a beta of 1.03.

Institutional Trading of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Squarepoint Ops LLC boosted its position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares by 84.3% during the 2nd quarter. Squarepoint Ops LLC now owns 57,348 shares of the company’s stock valued at $1,305,000 after acquiring an additional 26,233 shares during the last quarter. Group One Trading LLC purchased a new stake in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares in the first quarter valued at about $2,398,000. Tower Research Capital LLC TRC grew its holdings in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares by 1.5% in the third quarter. Tower Research Capital LLC TRC now owns 41,917 shares of the company’s stock valued at $1,031,000 after purchasing an additional 609 shares during the period. Focus Partners Wealth acquired a new stake in Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares during the first quarter worth about $547,000. Finally, SBI Securities Co. Ltd. increased its position in Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares by 40.0% during the fourth quarter. SBI Securities Co. Ltd. now owns 3,264 shares of the company’s stock worth $71,000 after purchasing an additional 933 shares during the last quarter.

About Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares

The Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares (GUSH) is an exchange-traded fund that mostly invests in energy equity. The fund provides 2x daily exposure to an equal-weighted index of the largest oil and gas exploration and production companies in the US. GUSH was launched on May 28, 2015 and is managed by Direxion.