Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares (NYSEARCA:GUSH) Stock Price Down 2.3% – Time to Sell?

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares (NYSEARCA:GUSH) traded down 2.3% during trading on Thursday . The company traded as low as $22.10 and last traded at $22.58. 693,743 shares changed hands during mid-day trading, an increase of 2% from the average session volume of 680,854 shares. The stock had previously closed at $23.10.

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares Stock Up 3.4 %

The firm has a 50-day moving average of $29.19 and a 200 day moving average of $29.64. The stock has a market capitalization of $227.80 million, a P/E ratio of 9.27 and a beta of 3.66.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GUSH. IMC Chicago LLC acquired a new stake in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares during the 4th quarter worth about $401,000. Impala Asset Management LLC increased its holdings in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares by 14.1% during the third quarter. Impala Asset Management LLC now owns 250,654 shares of the company’s stock worth $7,066,000 after buying an additional 30,954 shares in the last quarter. Hodges Capital Management Inc. bought a new position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares in the third quarter valued at approximately $282,000. Two Sigma Securities LLC acquired a new position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares in the 4th quarter worth approximately $724,000. Finally, Tower Research Capital LLC TRC grew its position in Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares by 573.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 94,290 shares of the company’s stock worth $2,622,000 after acquiring an additional 80,294 shares during the last quarter.

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.