Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Reaches New 52-Week High – Time to Buy?

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $185.63 and last traded at $185.54, with a volume of 341913 shares traded. The stock had previously closed at $181.15.

Direxion Daily Financial Bull 3X Shares Trading Up 1.3 %

The stock has a 50-day moving average of $163.12 and a 200 day moving average of $144.19.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC bought a new position in Direxion Daily Financial Bull 3X Shares during the third quarter worth $187,000. JPMorgan Chase & Co. bought a new position in Direxion Daily Financial Bull 3X Shares in the 3rd quarter valued at about $191,000. PNC Financial Services Group Inc. lifted its position in Direxion Daily Financial Bull 3X Shares by 11.4% during the third quarter. PNC Financial Services Group Inc. now owns 8,132 shares of the real estate investment trust’s stock worth $1,055,000 after acquiring an additional 832 shares during the last quarter. Silicon Valley Capital Partners bought a new stake in shares of Direxion Daily Financial Bull 3X Shares during the third quarter worth approximately $64,000. Finally, Hollencrest Capital Management acquired a new position in shares of Direxion Daily Financial Bull 3X Shares in the third quarter valued at approximately $42,000. Institutional investors and hedge funds 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.