Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Reaches New 12-Month High – Here’s What Happened

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS)’s share price hit a new 52-week high on Wednesday . The company traded as high as $187.25 and last traded at $185.45, with a volume of 88767 shares. The stock had previously closed at $182.35.

Direxion Daily Financial Bull 3X Shares Price Performance

The firm has a market cap of $2.52 billion, a PE ratio of 15.11 and a beta of 2.59. The stock has a 50-day moving average price of $154.96 and a 200 day moving average price of $142.37.

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

Several hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in shares of Direxion Daily Financial Bull 3X Shares by 110.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,907 shares of the real estate investment trust’s stock valued at $322,000 after purchasing an additional 999 shares during the last quarter. StoneX Group Inc. acquired a new stake in shares of Direxion Daily Financial Bull 3X Shares during the 2nd quarter worth $215,000. Jump Financial LLC acquired a new stake in shares of Direxion Daily Financial Bull 3X Shares during the 2nd quarter worth $1,416,000. Qube Research & Technologies Ltd purchased a new position in shares of Direxion Daily Financial Bull 3X Shares in the 2nd quarter worth $486,000. Finally, Bank of America Corp DE raised its position in shares of Direxion Daily Financial Bull 3X Shares by 64.2% in the 2nd quarter. Bank of America Corp DE now owns 4,137 shares of the real estate investment trust’s stock worth $697,000 after buying an additional 1,618 shares during the period. 3.51% of the stock is owned by institutional investors and hedge funds.

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.