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

Shares of Direxion Daily Financial Bear 3X Shares (NYSEARCA:FAZ) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $43.81 and traded as low as $43.28. Direxion Daily Financial Bear 3X Shares shares last traded at $43.97, with a volume of 307,349 shares trading hands.

Direxion Daily Financial Bear 3X Shares Trading Down 0.8%

The firm’s 50 day moving average is $47.24 and its two-hundred day moving average is $43.81.

Institutional Investors Weigh In On Direxion Daily Financial Bear 3X Shares

A number of large investors have recently modified their holdings of FAZ. Group One Trading LLC increased its holdings in shares of Direxion Daily Financial Bear 3X Shares by 7.4% in the 1st quarter. Group One Trading LLC now owns 6,330 shares of the real estate investment trust’s stock valued at $321,000 after acquiring an additional 438 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Direxion Daily Financial Bear 3X Shares in the 4th quarter valued at $202,000. UBS Group AG grew its position in shares of Direxion Daily Financial Bear 3X Shares by 5,908.8% in the 3rd quarter. UBS Group AG now owns 27,400 shares of the real estate investment trust’s stock valued at $1,108,000 after buying an additional 26,944 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Direxion Daily Financial Bear 3X Shares in the 4th quarter valued at $1,466,000. Finally, Jump Financial LLC purchased a new position in shares of Direxion Daily Financial Bear 3X Shares in the 4th quarter valued at $1,554,000. 9.56% of the stock is owned by hedge funds and other institutional investors.

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.