Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) Trading 1.5% Higher – What’s Next?

Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) shares rose 1.5% during mid-day trading on Thursday . The company traded as high as $65.78 and last traded at $65.64. Approximately 481,549 shares were traded during mid-day trading, a decline of 14% from the average daily volume of 557,475 shares. The stock had previously closed at $64.67.

Direxion Daily Energy Bull 2x Shares Stock Up 1.5 %

The stock has a market capitalization of $358.39 million, a PE ratio of 9.05 and a beta of 0.96. The stock’s 50-day moving average is $62.12 and its 200 day moving average is $62.15.

Hedge Funds Weigh In On Direxion Daily Energy Bull 2x Shares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ERX. Traynor Capital Management Inc. raised its holdings in Direxion Daily Energy Bull 2x Shares by 8.8% during the third quarter. Traynor Capital Management Inc. now owns 36,064 shares of the company’s stock valued at $2,139,000 after buying an additional 2,931 shares in the last quarter. DRW Securities LLC increased its holdings in shares of Direxion Daily Energy Bull 2x Shares by 247.4% during the 2nd quarter. DRW Securities LLC now owns 16,403 shares of the company’s stock valued at $1,068,000 after acquiring an additional 11,681 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Direxion Daily Energy Bull 2x Shares in the 3rd quarter valued at approximately $846,000. Squarepoint Ops LLC acquired a new stake in Direxion Daily Energy Bull 2x Shares in the 2nd quarter worth approximately $782,000. Finally, Sanctuary Advisors LLC bought a new stake in Direxion Daily Energy Bull 2x Shares during the second quarter worth approximately $651,000.

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.