Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares (NYSEARCA:GUSH) Trading Up 4% – Should You Buy?

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares (NYSEARCA:GUSH) rose 4% during mid-day trading on Monday . The stock traded as high as $28.38 and last traded at $28.01. Approximately 811,174 shares changed hands during trading, an increase of 13% from the average daily volume of 716,381 shares. The stock had previously closed at $26.93.

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares Price Performance

The company’s 50-day simple moving average is $29.25 and its 200-day simple moving average is $33.49. The stock has a market capitalization of $337.80 million, a P/E ratio of 1.38 and a beta of 1.35.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Avondale Wealth Management raised its position in Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares by 150.0% during the third quarter. Avondale Wealth Management now owns 2,000 shares of the company’s stock worth $56,000 after acquiring an additional 1,200 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares in the first quarter valued at $105,000. Squarepoint Ops LLC acquired a new position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares in the second quarter valued at $743,000. Finally, Impala Asset Management LLC increased its holdings in shares of 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 purchasing an additional 79,700 shares during 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.