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

Shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares (NYSEARCA:GUSH) shot up 2.6% during mid-day trading on Tuesday . The company traded as high as $28.10 and last traded at $27.81. 879,148 shares were traded during trading, an increase of 22% from the average session 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 Up 2.6 %

The company has a 50 day moving average price of $29.93 and a 200-day moving average price of $31.12. The company has a market cap of $335.39 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

A number of institutional investors have recently made changes to their positions in the stock. Avondale Wealth Management increased its stake in shares of 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 valued at $56,000 after acquiring an additional 1,200 shares during the period. Hodges Capital Management Inc. bought a new position in Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares during the 3rd quarter valued at $282,000. Squarepoint Ops LLC acquired a new position in shares of Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2x Shares during the 2nd quarter valued at $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% in 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.