Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) Share Price Pass Below 200 Day Moving Average – Here’s Why

Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $43.66 and traded as low as $42.99. Direxion Daily Financial Bear 3X Shares shares last traded at $44.11, with a volume of 396,728 shares traded.

Direxion Daily Financial Bear 3X Shares Trading Down 1.2%

The business’s fifty day moving average is $47.70 and its 200-day moving average is $43.66.

Hedge Funds Weigh In On Direxion Daily Financial Bear 3X Shares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gunderson Capital Management LLC bought a new position in Direxion Daily Financial Bear 3X Shares during the first quarter worth about $4,972,000. Virtu Financial LLC bought a new position in Direxion Daily Financial Bear 3X Shares during the fourth quarter worth about $202,000. Quadrature Capital Ltd bought a new position in Direxion Daily Financial Bear 3X Shares during the fourth quarter worth about $1,466,000. Jump Financial LLC bought a new position in Direxion Daily Financial Bear 3X Shares during the fourth quarter worth about $1,554,000. Finally, UBS Group AG boosted its position in Direxion Daily Financial Bear 3X Shares by 5,908.8% during the third quarter. UBS Group AG now owns 27,400 shares of the real estate investment trust’s stock worth $1,108,000 after purchasing an additional 26,944 shares during the period. Institutional investors own 9.56% of the company’s stock.

Direxion Daily Financial Bear 3X Shares Company Profile

Direxion Daily Financial Bear 3x Shares (the Fund) seeks daily investment results, before fees and expenses, of 300% of the inverse (or opposite) 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. The Fund invests in sectors, such as banks, diversified financial services, real estate investment trust, financial data and systems, asset management and custodian, securities brokerage and services, and consumer lending.