Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Hits New 12-Month High – What’s Next?

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS)’s stock price reached a new 52-week high on Monday . The company traded as high as $189.23 and last traded at $186.96, with a volume of 175933 shares trading hands. The stock had previously closed at $184.57.

Direxion Daily Financial Bull 3X Shares Stock Performance

The stock has a 50 day moving average of $168.38 and a two-hundred day moving average of $153.32. The stock has a market cap of $2.54 billion, a PE ratio of 16.35 and a beta of 3.20.

Institutional Trading of Direxion Daily Financial Bull 3X Shares

Several large investors have recently added to or reduced their stakes in FAS. Bank of Montreal Can boosted its holdings in shares of Direxion Daily Financial Bull 3X Shares by 81.6% during the fourth quarter. Bank of Montreal Can now owns 454 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 204 shares during the period. Addison Advisors LLC purchased a new position in Direxion Daily Financial Bull 3X Shares in the third quarter valued at about $39,000. Hollencrest Capital Management acquired a new position in Direxion Daily Financial Bull 3X Shares in the 3rd quarter worth about $42,000. Ellis Investment Partners LLC increased its position in Direxion Daily Financial Bull 3X Shares by 29.4% in the 4th quarter. Ellis Investment Partners LLC now owns 2,229 shares of the real estate investment trust’s stock worth $336,000 after purchasing an additional 507 shares during the last quarter. Finally, Wells Fargo & Company MN acquired a new stake in shares of Direxion Daily Financial Bull 3X Shares during the 4th quarter valued at about $117,000. 3.51% of the stock is owned by institutional investors and hedge funds.

About Direxion Daily Financial Bull 3X Shares

Direxion Daily Financial Bull 3x Shares seeks daily investment results of 300% of the price performance of the Russell 1000 Financial Services Index (the Index). The Index is a subset of the Russell 1000 Index that measures the performance of the securities classified in the financial services sector of the large cap United States equity market.