Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares (NYSEARCA:GUSH) Trading Up 4.3% – Time to Buy?

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares (NYSEARCA:GUSH) were up 4.3% during mid-day trading on Tuesday . The company traded as high as $32.32 and last traded at $31.96. Approximately 1,187,406 shares traded hands during trading, a decline of 13% from the average session volume of 1,368,797 shares. The stock had previously closed at $30.64.

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares News Summary

Here are the key news stories impacting Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares this week:

• Positive Sentiment: U.S. oil-related markets were boosted by renewed worries around shipping security and Middle East tensions, including ship attacks near the Strait of Hormuz and the U.S. revoking Iran oil sales authorization. U.S. Tech Futures Down, Oil Prices Rise on Ship Attacks Near Hormuz
• Positive Sentiment: Industry commentary suggests oil still has upside risk if Middle East supply disruptions worsen, which can help energy producers and leveraged oil ETFs like GUSH. ClearView’s Kevin Book Says Oil’s Upside Risks Are Alive Even as OPEC+ Boosts Output and Hormuz Reopens
• Neutral Sentiment: Oil prices have also been trading in a fairly tight range, with analysts pointing to summer consolidation and “base building” rather than a clear breakout. WTI and Brent Crude Forecasts – Summer Range Consolidation Limits Big Market Moves
• Negative Sentiment: OPEC+ continues raising output, while reports of rising Gulf production, strong U.S. shale supply, and Saudi price cuts suggest the market could face more supply and weaker pricing. Rising Gulf Oil Output Sets Stage for Market Share Battle Oil slips after OPEC+ agrees to raise output targets
• Negative Sentiment: Some traders also say Saudi Arabia’s deeper price cut to Asia may not be enough to spark stronger demand, underscoring cautious end-market buying. Saudi oil price cut unlikely to convince sated Asia buyers, traders say

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares Price Performance

The stock has a market capitalization of $200.07 million, a price-to-earnings ratio of 8.13 and a beta of 1.02. The company’s 50-day simple moving average is $35.35 and its 200-day simple moving average is $32.69.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GUSH. Tower Research Capital LLC TRC increased its stake in Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares by 1.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 41,917 shares of the company’s stock worth $1,031,000 after acquiring an additional 609 shares during the period. SBI Securities Co. Ltd. grew its holdings in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares by 40.0% during the 4th quarter. SBI Securities Co. Ltd. now owns 3,264 shares of the company’s stock worth $71,000 after purchasing an additional 933 shares in the last quarter. Group One Trading LLC increased its position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares by 67.7% in the third quarter. Group One Trading LLC now owns 7,389 shares of the company’s stock worth $182,000 after purchasing an additional 2,982 shares during the period. Squarepoint Ops LLC raised its stake in Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares by 80.7% in the fourth quarter. Squarepoint Ops LLC now owns 30,973 shares of the company’s stock valued at $678,000 after purchasing an additional 13,834 shares in the last quarter. Finally, Focus Partners Wealth bought a new stake in Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares during the first quarter worth about $547,000.

About Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares

The Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares (GUSH) is an exchange-traded fund that mostly invests in energy equity. The fund provides 2x daily exposure to an equal-weighted index of the largest oil and gas exploration and production companies in the US. GUSH was launched on May 28, 2015 and is managed by Direxion.