10-May-2024
No press releases found.
OPEC supply in focus with oil prices still under pressure
Seeking Alpha News (Fri, 10-May 8:25 PM ET)
U.S. drilling rigs drop to two-and-a-half year low, Baker Hughes says
Seeking Alpha News (Fri, 10-May 2:05 PM ET)
OPEC+ likely to extend production cuts in June, Goldman Sachs says
Seeking Alpha News (Thu, 9-May 6:45 PM ET)
Seasonal U.S. demand for gasoline, diesel worst since 2020, hitting refining margins
Seeking Alpha News (Wed, 8-May 6:45 PM ET)
Biden administration set to resume purchases for Strategic Petroleum Reserve
Seeking Alpha News (Tue, 7-May 6:50 PM ET)
The Fund seeks daily investment results, before fees and expenses, of 200% of the inverse (or opposite) of the performance of the S&P Oil & Gas Exploration & Production Select Industry Index. The S&P Oil & Gas Exploration & Production Select Industry Index (SPSIOPTR) is provided by Standard & Poor's Index Provider and includes domestic companies from the oil and gas exploration and production sub-industry. The Index is a modified equal-weighted index that is designed to measure the performance of a sub-industry or group of sub-industries determined based on the Global Industry Classification Standards (GICS)
Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X trades on the ARCA stock market under the symbol DRIP.
As of May 10, 2024, DRIP stock price climbed to $9.18 with 856,853 million shares trading.
DRIP has a beta of -1.16, meaning it tends to be less sensitive to market movements. DRIP has a correlation of 0.09 to the broad based SPY ETF.
DRIP has a market cap of $54.23 million. This is considered a Micro Cap stock.
In the last 3 years, DRIP stock traded as high as $120.00 and as low as $7.87.
DRIP has underperformed the market in the last year with a return of -40.9%, while the SPY ETF gained +27.8%. In the last 3 month period, DRIP fell short of the market, returning -22.3%, while SPY returned +4.2%. However, in the most recent 2 weeks DRIP has outperformed the stock market by returning +8.8%, while SPY returned +2.5%.
DRIP support price is $8.59 and resistance is $9.09 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that DRIP stock will trade within this expected range on the day.