Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $143.96 and traded as high as $185.27. Direxion Daily Financial Bull 3X Shares shares last traded at $178.81, with a volume of 245,702 shares.

Direxion Daily Financial Bull 3X Shares Stock Down 0.1%

The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 15.11 and a beta of 2.59. The business’s 50-day moving average is $164.81 and its 200-day moving average is $144.18.

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

Institutional investors have recently modified their holdings of the stock. Qube Research & Technologies Ltd raised its position in shares of Direxion Daily Financial Bull 3X Shares by 5,950.9% in the third quarter. Qube Research & Technologies Ltd now owns 174,447 shares of the real estate investment trust’s stock worth $31,034,000 after acquiring an additional 171,564 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in shares of Direxion Daily Financial Bull 3X Shares during the 3rd quarter valued at about $6,604,000. Virtu Financial LLC purchased a new position in shares of Direxion Daily Financial Bull 3X Shares in the 3rd quarter valued at about $4,392,000. Quadrature Capital Ltd increased its stake in shares of Direxion Daily Financial Bull 3X Shares by 192.0% in the 4th quarter. Quadrature Capital Ltd now owns 36,808 shares of the real estate investment trust’s stock valued at $6,196,000 after purchasing an additional 24,203 shares in the last quarter. Finally, Focus Partners Wealth purchased a new position in shares of Direxion Daily Financial Bull 3X Shares in the 3rd quarter valued at about $3,416,000. Hedge funds and other institutional investors own 3.51% of the company’s stock.

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. 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.