Shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF (NYSEARCA:DRIP – Get Free Report) dropped 0.4% on Tuesday. The stock traded as low as $29.55 and last traded at $30.07. Approximately 903,871 shares traded hands during trading, a decline of 57% from the average session volume of 2,116,927 shares. The stock had previously closed at $30.18.
Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF Trading Down 0.4%
The firm has a 50-day moving average of $34.34 and a 200-day moving average of $42.43.
Institutional Trading of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF
Hedge funds and other institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc grew its holdings in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF by 31.8% in the second quarter. IFP Advisors Inc now owns 19,496 shares of the company’s stock worth $104,000 after purchasing an additional 4,700 shares during the last quarter. Group One Trading LLC raised its holdings in Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF by 26.9% during the 1st quarter. Group One Trading LLC now owns 10,774 shares of the company’s stock valued at $45,000 after buying an additional 2,281 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF during the first quarter valued at about $414,000. Finally, IMC Chicago LLC purchased a new stake in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF during the first quarter worth about $181,000.
Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF Company Profile
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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