Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) Short Interest Down 27.8% in April

Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) was the target of a large decline in short interest during the month of April. As of April 15th, there was short interest totaling 251,013 shares, a decline of 27.8% from the March 31st total of 347,423 shares. Approximately 8.5% of the shares of the company are sold short. Based on an average daily volume of 442,395 shares, the days-to-cover ratio is presently 0.6 days.

Direxion Daily Energy Bull 2x Shares Price Performance

Direxion Daily Energy Bull 2x Shares stock traded down $2.71 during trading hours on Friday, hitting $94.22. 729,778 shares of the stock traded hands, compared to its average volume of 517,469. The firm’s 50 day moving average price is $91.31 and its 200-day moving average price is $71.43. The stock has a market capitalization of $274.18 million, a price-to-earnings ratio of 14.85 and a beta of 0.86. Direxion Daily Energy Bull 2x Shares has a 1 year low of $45.91 and a 1 year high of $110.78.

Institutional Trading of Direxion Daily Energy Bull 2x Shares

Several large investors have recently added to or reduced their stakes in ERX. EverSource Wealth Advisors LLC grew its stake in Direxion Daily Energy Bull 2x Shares by 17.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,650 shares of the company’s stock valued at $85,000 after purchasing an additional 250 shares during the last quarter. Jump Financial LLC purchased a new stake in Direxion Daily Energy Bull 2x Shares during the 2nd quarter valued at about $1,256,000. Bank of America Corp DE purchased a new stake in Direxion Daily Energy Bull 2x Shares during the 2nd quarter valued at about $116,000. Two Sigma Securities LLC grew its stake in Direxion Daily Energy Bull 2x Shares by 26.2% during the 2nd quarter. Two Sigma Securities LLC now owns 17,589 shares of the company’s stock valued at $904,000 after purchasing an additional 3,656 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Direxion Daily Energy Bull 2x Shares by 7.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 101,016 shares of the company’s stock valued at $5,694,000 after purchasing an additional 7,033 shares during the last quarter.

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.