DRIP Stock Summary and Trading Ideas (Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X | ARCA:DRIP)

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 September 17, 2024, DRIP stock price declined to $11.54 with 2,734,379 million shares trading.

DRIP has a beta of -1.17, meaning it tends to be less sensitive to market movements. DRIP has a correlation of 0.11 to the broad based SPY ETF.

DRIP has a market cap of $43.94 million. This is considered a Sub-Micro Cap stock.

In the last 3 years, DRIP stock traded as high as $84.20 and as low as $7.87.

DRIP stock has underperformed the market in the last year with a return of +20.9%, while SPY returned +28.2%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in DRIP shares. However, DRIP has outperformed the market in the last 3 month and 2 week periods, returning +14.5% and +10.9%, while SPY returned +4.1% and -0.1%, respectively. This indicates DRIP has been having a stronger performance recently.

DRIP support price is $11.62 and resistance is $12.35 (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.