Direxion Daily Energy Bear 2X ETF (NYSEARCA:ERY) Shares Shorted: Short Interest Up 188.0% in October

Direxion Daily Energy Bear 2X ETF (NYSEARCA:ERY) saw a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 667,299 shares, an increase of 188.0% from the September 30th total of 231,664 shares. Based on an average trading volume of 18,778,574 shares, the short-interest ratio is currently 0.0 days. Currently, 11.4% of the shares of the stock are sold short.

Direxion Daily Energy Bear 2X ETF Stock Up 0.1%

Shares of NYSEARCA ERY traded up $0.01 during midday trading on Thursday, hitting $7.63. The stock had a trading volume of 15,318,363 shares, compared to its average volume of 5,556,844. The company’s 50-day simple moving average is $8.67 and its 200 day simple moving average is $11.34. Direxion Daily Energy Bear 2X ETF has a fifty-two week low of $7.33 and a fifty-two week high of $21.73.

Hedge Funds Weigh In On Direxion Daily Energy Bear 2X ETF

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its position in shares of Direxion Daily Energy Bear 2X ETF by 188.9% in the second 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. Archford Capital Strategies LLC acquired a new stake in Direxion Daily Energy Bear 2X ETF in the 2nd quarter worth about $559,000. Finally, Group One Trading LLC increased its stake in Direxion Daily Energy Bear 2X ETF by 4,117.1% during the 1st quarter. Group One Trading LLC now owns 14,760 shares of the exchange traded fund’s stock worth $152,000 after acquiring an additional 14,410 shares during the period.

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.