Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares (NYSEARCA:GUSH) Trading Down 1.2% – Should You Sell?

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares (NYSEARCA:GUSH)’s share price were down 1.2% during mid-day trading on Tuesday . The stock traded as low as $33.22 and last traded at $33.56. Approximately 498,259 shares traded hands during trading, a decline of 31% from the average daily volume of 726,956 shares. The stock had previously closed at $33.97.

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

The stock has a market capitalization of $404.73 million, a PE ratio of 1.38 and a beta of 1.35. The firm has a 50-day moving average price of $30.47 and a 200-day moving average price of $32.59.

Institutional Investors Weigh In On Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares

Several large investors have recently made changes to their positions in the business. Impala Asset Management LLC increased its holdings in Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares by 14.1% in the 3rd quarter. Impala Asset Management LLC now owns 250,654 shares of the company’s stock worth $7,066,000 after acquiring an additional 30,954 shares during the last quarter. Squarepoint Ops LLC bought a new position in Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares in the 2nd quarter worth about $743,000. Hodges Capital Management Inc. bought a new position in Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares in the 3rd quarter worth about $282,000. Finally, Avondale Wealth Management boosted its stake in Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares by 150.0% in the 3rd quarter. Avondale Wealth Management now owns 2,000 shares of the company’s stock worth $56,000 after purchasing an additional 1,200 shares during the period.

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.