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

Shares of Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $41.92 and traded as low as $39.87. Direxion Daily Financial Bear 3X Shares shares last traded at $40.50, with a volume of 1,346,771 shares traded.

Direxion Daily Financial Bear 3X Shares Stock Up 4.1%

The stock has a 50 day moving average of $40.19 and a 200-day moving average of $41.90.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Direxion Daily Financial Bear 3X Shares in the 2nd quarter valued at $44,000. SBI Securities Co. Ltd. boosted its position in Direxion Daily Financial Bear 3X Shares by 119.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 18,372 shares of the real estate investment trust’s stock valued at $81,000 after acquiring an additional 10,002 shares in the last quarter. Johnson Investment Counsel Inc. lifted its position in shares of Direxion Daily Financial Bear 3X Shares by 142.4% during the second quarter. Johnson Investment Counsel Inc. now owns 25,912 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 15,221 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Direxion Daily Financial Bear 3X Shares in the 2nd quarter worth $175,000. Finally, Squarepoint Ops LLC increased its stake in Direxion Daily Financial Bear 3X Shares by 48.7% during the 2nd quarter. Squarepoint Ops LLC now owns 218,391 shares of the real estate investment trust’s stock valued at $959,000 after purchasing an additional 71,516 shares in the last quarter. 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.