Direxion Daily Real Estate Bear 3X Shares (NYSEARCA:DRV) Shares Pass Below Fifty Day Moving Average – Here’s Why

Direxion Daily Real Estate Bear 3X Shares (NYSEARCA:DRV) shares passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $19.45 and traded as low as $18.33. Direxion Daily Real Estate Bear 3X Shares shares last traded at $18.34, with a volume of 52,582 shares traded.

Direxion Daily Real Estate Bear 3X Shares Price Performance

The business’s 50-day moving average price is $19.40 and its two-hundred day moving average price is $22.25.

Hedge Funds Weigh In On Direxion Daily Real Estate Bear 3X Shares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC lifted its position in shares of Direxion Daily Real Estate Bear 3X Shares by 17.6% during the 4th quarter. Virtu Financial LLC now owns 37,463 shares of the company’s stock valued at $994,000 after acquiring an additional 5,614 shares during the period. Quadrature Capital Ltd acquired a new position in Direxion Daily Real Estate Bear 3X Shares in the fourth quarter valued at about $335,000. J. Safra Sarasin Holding AG acquired a new position in Direxion Daily Real Estate Bear 3X Shares in the fourth quarter valued at about $265,000. Finally, Group One Trading LLC raised its stake in Direxion Daily Real Estate Bear 3X Shares by 21.8% in the third quarter. Group One Trading LLC now owns 4,462 shares of the company’s stock valued at $106,000 after purchasing an additional 800 shares in the last quarter.

About Direxion Daily Real Estate Bear 3X Shares

The Direxion Daily Real Estate Bear 3X Shares (DRV) is an exchange-traded fund that is based on the S&P Real Estate Select Sector index. The fund provides 3x leveraged inverse exposure to an index that captures large cap equities of the US real estate segment. DRV was launched on Jul 16, 2009 and is managed by Direxion.