Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF (NYSEARCA:GUSH) Stock Breaks Below 50 Day Moving Average – What’s Next?

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF (NYSEARCA:GUSH)’s share price passed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $46.27 and traded as low as $45.51. Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF shares last traded at $45.55, with a volume of 345,922 shares changing hands.

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF Price Performance

The firm’s 50 day moving average price is $46.27 and its two-hundred day moving average price is $38.14. The stock has a market cap of $207.71 million, a PE ratio of 8.13 and a beta of 1.15.

Institutional Investors Weigh In On Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF

An institutional investor recently bought a new position in Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF stock. Group One Trading LLC acquired a new position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF (NYSEARCA:GUSH) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 54,231 shares of the company’s stock, valued at approximately $2,398,000. Group One Trading LLC owned approximately 0.75% of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF at the end of the most recent quarter.

About Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF

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.