Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares (NYSEARCA:GUSH) Stock Price Up 2.6% – Time to Buy?

Shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares (NYSEARCA:GUSH) rose 2.6% on Tuesday . The stock traded as high as $28.10 and last traded at $27.81. Approximately 879,148 shares traded hands during trading, an increase of 22% from the average daily volume of 723,309 shares. The stock had previously closed at $27.10.

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

The firm’s 50-day moving average price is $29.91 and its two-hundred day moving average price is $31.10. The firm has a market cap of $347.69 million, a PE ratio of 1.38 and a beta of 1.35.

Institutional Investors Weigh In On Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares

Several large investors have recently modified their holdings of the stock. Avondale Wealth Management boosted 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 acquiring an additional 1,200 shares in the last quarter. Hodges Capital Management Inc. purchased a new stake in Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares in the 3rd quarter valued at approximately $282,000. Squarepoint Ops LLC acquired a new position in Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares during the 2nd quarter worth approximately $743,000. Finally, Impala Asset Management LLC raised its stake in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares by 14.1% during the 3rd 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.

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.