Direxion Daily Financial Bull 3X ETF (NYSEARCA:FAS) Shares Break Above 50-Day Moving Average – Should You Sell?

Shares of Direxion Daily Financial Bull 3X ETF (NYSEARCA:FAS) crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $162.24 and traded as high as $170.68. Direxion Daily Financial Bull 3X ETF shares last traded at $168.21, with a volume of 354,392 shares.

Direxion Daily Financial Bull 3X ETF Stock Performance

The stock has a fifty day moving average of $162.24 and a 200-day moving average of $149.78. The company has a market cap of $2.19 billion, a PE ratio of 15.11 and a beta of 2.62.

Institutional Trading of Direxion Daily Financial Bull 3X ETF

A number of large investors have recently made changes to their positions in the stock. Bogart Wealth LLC lifted its holdings in Direxion Daily Financial Bull 3X ETF by 37.5% during the 1st quarter. Bogart Wealth LLC now owns 1,100 shares of the real estate investment trust’s stock valued at $130,000 after buying an additional 300 shares in the last quarter. Signaturefd LLC purchased a new stake in Direxion Daily Financial Bull 3X ETF in the 3rd quarter valued at about $110,000. Toth Financial Advisory Corp bought a new position in Direxion Daily Financial Bull 3X ETF in the 3rd quarter worth about $169,000. PNC Financial Services Group Inc. grew its stake in Direxion Daily Financial Bull 3X ETF by 17.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,532 shares of the real estate investment trust’s stock worth $1,130,000 after acquiring an additional 1,400 shares in the last quarter. Finally, IMC Chicago LLC bought a new position in Direxion Daily Financial Bull 3X ETF in the 1st quarter worth about $221,000. 3.51% of the stock is owned by hedge funds and other institutional investors.

Direxion Daily Financial Bull 3X ETF Company Profile

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.