DRIP Stock Summary and Trading Ideas (Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 3X | ARCA:DRIP)

The Fund seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) of the performance of the S&P Oil & Gas Exploration & Production Select Industry Index. The Index is provided by Standard & Poor s and includes domestic companies from the oil and gas exploration and production sub-industry. As of April 30, 2015, the Index was comprised of 98 stocks. The companies included in the Index have a median market capitalization of $3.89 billion and are concentrated in the energy and oil and gas sectors as of April 30, 2015.

Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 3X trades on the ARCA stock market under the symbol DRIP.

As of April 18, 2024, DRIP stock price climbed to $9.03 with 1,681,552 million shares trading.

DRIP has a beta of -1.14, meaning it tends to be less sensitive to market movements. DRIP has a correlation of 0.08 to the broad based SPY ETF.

DRIP has a market cap of $56.06 million. This is considered a Micro Cap stock.

In the last 3 years, DRIP stock traded as high as $140.50 and as low as $7.87.

DRIP has underperformed the market in the last year with a return of -30.2%, while the SPY ETF gained +22.2%. In the last 3 month period, DRIP fell short of the market, returning -28.5%, while SPY returned +5.2%. However, in the most recent 2 weeks DRIP has outperformed the stock market by returning +10.5%, while SPY returned -2.6%.

DRIP support price is $8.66 and resistance is $9.08 (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.