Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) Sees Significant Decrease in Short Interest

Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) was the recipient of a large decline in short interest during the month of May. As of May 15th, there was short interest totaling 161,928 shares, a decline of 41.8% from the April 30th total of 278,434 shares. Based on an average daily volume of 345,562 shares, the days-to-cover ratio is currently 0.5 days. Approximately 5.6% of the shares of the company are sold short.

Institutional Investors Weigh In On Direxion Daily Energy Bull 2x Shares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. lifted its holdings in Direxion Daily Energy Bull 2x Shares by 237,263.8% in 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. Envestnet Asset Management Inc. lifted its holdings in shares of Direxion Daily Energy Bull 2x Shares by 7.5% during the third quarter. Envestnet Asset Management Inc. now owns 101,016 shares of the company’s stock worth $5,694,000 after buying an additional 7,033 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Direxion Daily Energy Bull 2x Shares during the second quarter worth approximately $1,256,000. Two Sigma Securities LLC lifted its holdings in shares of Direxion Daily Energy Bull 2x Shares by 26.2% during the second 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, Simplex Trading LLC lifted its holdings in shares of Direxion Daily Energy Bull 2x Shares by 403.2% during the fourth 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.

Direxion Daily Energy Bull 2x Shares Stock Performance

ERX opened at $88.33 on Tuesday. The business has a 50 day moving average price of $92.71 and a 200 day moving average price of $76.94. Direxion Daily Energy Bull 2x Shares has a twelve month low of $47.50 and a twelve month high of $110.78. The firm has a market cap of $257.04 million, a P/E ratio of 14.85 and a beta of 0.86.

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.