Direxion Daily Energy Bear 2X ETF (NYSEARCA:ERY) Stock Short Interest Jumps 59.2%

Direxion Daily Energy Bear 2X ETF (NYSEARCA:ERY) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 375,987 shares, an increase of 59.2% from the August 31st total of 236,222 shares. Based on an average daily trading volume, of 14,198,928 shares, the short-interest ratio is currently 0.0 days. Approximately 7.5% of the shares of the company are short sold.

Direxion Daily Energy Bear 2X ETF Stock Down 3.6%

Shares of ERY traded down $0.34 during mid-day trading on Thursday, hitting $9.13. The company’s stock had a trading volume of 23,511,180 shares, compared to its average volume of 4,034,250. The stock’s 50-day moving average is $9.52 and its two-hundred day moving average is $10.85. Direxion Daily Energy Bear 2X ETF has a one year low of $8.37 and a one year high of $22.50.

Institutional Investors Weigh In On Direxion Daily Energy Bear 2X ETF

Several hedge funds have recently made changes to their positions in the stock. Archford Capital Strategies LLC acquired a new position in Direxion Daily Energy Bear 2X ETF in the 2nd quarter valued at approximately $559,000. Allworth Financial LP grew its holdings in shares of Direxion Daily Energy Bear 2X ETF by 188.9% during the 2nd quarter. Allworth Financial LP now owns 107,054 shares of the exchange traded fund’s stock worth $1,398,000 after purchasing an additional 70,000 shares in the last quarter. Group One Trading LLC increased its position in shares of Direxion Daily Energy Bear 2X ETF by 4,117.1% during the first quarter. Group One Trading LLC now owns 14,760 shares of the exchange traded fund’s stock valued at $152,000 after purchasing an additional 14,410 shares during the period. Finally, Virtu Financial LLC raised its stake in shares of Direxion Daily Energy Bear 2X ETF by 79.5% in the fourth quarter. Virtu Financial LLC now owns 51,324 shares of the exchange traded fund’s stock valued at $1,021,000 after purchasing an additional 22,725 shares in the last quarter.

Direxion Daily Energy Bear 2X ETF Company Profile

The Direxion Daily Energy Bear 2X Shares (ERY) is an exchange-traded fund that is based on the Energy Select Sector index. The fund provides 2x inverse exposure to a market-cap-weighted index of US large-cap companies in the energy industry. ERY was launched on Nov 6, 2008 and is managed by Direxion.