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)’s share price fell 2.1% during trading on Tuesday . The stock traded as low as $54.33 and last traded at $56.32. 574,648 shares changed hands during trading, an increase of 30% from the average session volume of 440,610 shares. The stock had previously closed at $57.50.

Direxion Daily Energy Bull 2x Shares Stock Down 2.1 %

The stock has a fifty day moving average of $60.29 and a two-hundred day 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 Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. acquired a new stake in Direxion Daily Energy Bull 2x Shares in the fourth quarter valued at $3,499,000. IMC Chicago LLC acquired a new stake in Direxion Daily Energy Bull 2x Shares in the fourth quarter valued at $1,139,000. KG&L Capital Management LLC acquired a new stake in Direxion Daily Energy Bull 2x Shares in the fourth quarter valued at $816,000. Virtu Financial LLC acquired a new stake in Direxion Daily Energy Bull 2x Shares in the third quarter valued at $846,000. Finally, Freedom Investment Management Inc. acquired a new stake in Direxion Daily Energy Bull 2x Shares in the fourth quarter valued at $660,000.

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.