Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) Stock Price Down 2.1% – Here’s What Happened

Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) dropped 2.1% on Tuesday . The company traded as low as $54.33 and last traded at $56.32. Approximately 574,648 shares changed hands during trading, an increase of 30% from the average daily volume of 440,610 shares. The stock had previously closed at $57.50.

Direxion Daily Energy Bull 2x Shares Trading Down 2.1 %

The business has a 50 day simple moving average of $60.29 and a two-hundred day simple moving average of $61.58. The stock has a market cap of $239.92 million, a price-to-earnings ratio of 15.35 and a beta of 2.62.

Institutional Investors Weigh In On Direxion Daily Energy Bull 2x Shares

Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in shares of Direxion Daily Energy Bull 2x Shares by 646.8% in the 4th quarter. JPMorgan Chase & Co. now owns 575 shares of the company’s stock worth $32,000 after acquiring an additional 498 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in shares of Direxion Daily Energy Bull 2x Shares in the 4th quarter worth approximately $39,000. Headlands Technologies LLC acquired a new position in shares of Direxion Daily Energy Bull 2x Shares in the 4th quarter worth approximately $81,000. SBI Securities Co. Ltd. acquired a new position in shares of Direxion Daily Energy Bull 2x Shares in the 4th quarter worth approximately $97,000. Finally, Atria Investments Inc acquired a new position in shares of Direxion Daily Energy Bull 2x Shares in the 4th quarter worth approximately $201,000.

Direxion Daily Energy Bull 2x Shares Company Profile

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.