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

Shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares (NYSEARCA:GUSH) dropped 1.2% during trading on Tuesday . The company traded as low as $33.22 and last traded at $33.56. Approximately 498,259 shares were traded 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 Trading Down 1.2 %

The firm’s fifty day simple moving average is $30.27 and its two-hundred day simple moving average is $32.62. The company has a market capitalization of $404.73 million, a price-to-earnings ratio of 1.38 and a beta of 1.35.

Institutional Trading of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares

Several institutional investors have recently made changes to their positions in the company. Impala Asset Management LLC lifted its position in Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares by 56.9% in the second quarter. Impala Asset Management LLC now owns 219,700 shares of the company’s stock valued at $7,788,000 after buying an additional 79,700 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares during the second quarter worth about $743,000. Hodges Capital Management Inc. acquired a new stake in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares during the third quarter worth about $282,000. SG Americas Securities LLC purchased a new position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares in the first quarter valued at approximately $105,000. Finally, Avondale Wealth Management grew its holdings in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares by 150.0% in the third quarter. Avondale Wealth Management now owns 2,000 shares of the company’s stock valued at $56,000 after purchasing an additional 1,200 shares in the last quarter.

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares Company Profile

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.