Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Sets New 1-Year High – Should You Buy?

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) reached a new 52-week high during trading on Thursday . The company traded as high as $185.39 and last traded at $184.59, with a volume of 425176 shares traded. The stock had previously closed at $177.66.

Direxion Daily Financial Bull 3X Shares Stock Performance

The company’s 50 day moving average price is $162.92 and its 200 day moving average price is $142.01.

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

Several institutional investors have recently modified their holdings of the stock. Toth Financial Advisory Corp raised its holdings in Direxion Daily Financial Bull 3X Shares by 1.9% during the 3rd quarter. Toth Financial Advisory Corp now owns 13,403 shares of the real estate investment trust’s stock worth $1,740,000 after buying an additional 250 shares during the period. Addison Advisors LLC bought a new stake in shares of Direxion Daily Financial Bull 3X Shares during the third quarter worth $39,000. Hollencrest Capital Management acquired a new stake in shares of Direxion Daily Financial Bull 3X Shares during the third quarter worth $42,000. Silicon Valley Capital Partners bought a new stake in Direxion Daily Financial Bull 3X Shares in the 3rd quarter valued at $64,000. Finally, Ellis Investment Partners LLC boosted its stake in Direxion Daily Financial Bull 3X Shares by 29.4% in the 4th quarter. Ellis Investment Partners LLC now owns 2,229 shares of the real estate investment trust’s stock worth $336,000 after purchasing an additional 507 shares during the period. 3.51% of the stock is currently owned by institutional investors and hedge funds.

Direxion Daily Financial Bull 3X Shares 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.