Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) Stock Cross Below Fifty Day Moving Average of $61.98

Shares of Direxion Daily Energy Bull 2x Shares (NYSEARCA:ERX) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $61.98 and traded as low as $58.54. Direxion Daily Energy Bull 2x Shares shares last traded at $59.15, with a volume of 721,259 shares changing hands.

Direxion Daily Energy Bull 2x Shares Price Performance

The company has a market cap of $322.96 million, a P/E ratio of 9.05 and a beta of 0.96. The firm’s 50-day moving average is $61.98 and its two-hundred day moving average is $65.35.

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

A number of institutional investors and hedge funds have recently made changes to their positions in ERX. TRUE Private Wealth Advisors boosted its holdings in shares of Direxion Daily Energy Bull 2x Shares by 2.1% in the 2nd quarter. TRUE Private Wealth Advisors now owns 14,860 shares of the company’s stock worth $967,000 after purchasing an additional 299 shares during the period. Traynor Capital Management Inc. boosted its stake in Direxion Daily Energy Bull 2x Shares by 7.6% during the first quarter. Traynor Capital Management Inc. now owns 25,135 shares of the company’s stock worth $1,780,000 after buying an additional 1,770 shares during the period. Edge Financial Advisors LLC bought a new position in Direxion Daily Energy Bull 2x Shares during the first quarter valued at $298,000. Sanctuary Advisors LLC purchased a new stake in shares of Direxion Daily Energy Bull 2x Shares in the second quarter valued at $651,000. Finally, DRW Securities LLC raised its stake in shares of Direxion Daily Energy Bull 2x Shares by 247.4% in the second 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 period.

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.