18-Sep-2024
No press releases found.
Commerzbank cuts year-end Brent oil forecast to $75/bbl as demand continues to lose momentum
Seeking Alpha News (Thu, 19-Sep 6:09 AM ET)
Crude oil little changed after Fed rate cut, U.S. storage report
Seeking Alpha News (Wed, 18-Sep 6:45 PM ET)
U.S. reportedly to seek 6M barrels for Strategic Petroleum Reserve
Seeking Alpha News (Tue, 17-Sep 6:45 PM ET)
Oil rises on ramped up rate cut expectations, downplaying weak China data
Seeking Alpha News (Mon, 16-Sep 7:45 PM ET)
Commodity Roundup: China's oil demand falls, gold hits another record high on rate cut hopes
Seeking Alpha News (Mon, 16-Sep 6:10 AM ET)
Gulf of Mexico drillers gradually resume activities in wake of hurricane
Seeking Alpha News (Sun, 15-Sep 3:25 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 September 18, 2024, DRIP stock price declined to $11.48 with 2,450,661 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 $40.84 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 has underperformed the market in the last year with a price return of +21.8% while the SPY ETF gained +27.7%. However, in the short term, DRIP had mixed performance relative to the market. It has outperformed in the last 3 months, returning +14.1% vs +2.7% return in SPY. But in the last 2 weeks, DRIP shares have been beat by the market, returning -0.4% compared to an SPY return of +1.9%.
DRIP support price is $11.19 and resistance is $11.89 (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.