Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Shares Gap Down – Time to Sell?

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) shares gapped down prior to trading on Wednesday . The stock had previously closed at $105.31, but opened at $100.56. Direxion Daily Financial Bull 3X Shares shares last traded at $102.58, with a volume of 397,888 shares trading hands.

Direxion Daily Financial Bull 3X Shares Price Performance

The company has a market capitalization of $1.95 billion, a PE ratio of 14.81 and a beta of 2.92. The stock has a 50-day simple moving average of $157.94 and a 200 day simple moving average of $156.39.

Direxion Daily Financial Bull 3X Shares Increases Dividend

The business also recently declared a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were given a dividend of $0.4558 per share. This is an increase from Direxion Daily Financial Bull 3X Shares’s previous dividend of $0.32. The ex-dividend date of this dividend was Tuesday, March 25th.

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

Hedge funds have recently modified their holdings of the company. Captrust Financial Advisors boosted its holdings in shares of Direxion Daily Financial Bull 3X Shares by 20.4% during the third quarter. Captrust Financial Advisors now owns 4,920 shares of the real estate investment trust’s stock worth $639,000 after purchasing an additional 835 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in Direxion Daily Financial Bull 3X Shares during the third quarter worth about $187,000. JPMorgan Chase & Co. acquired a new stake in Direxion Daily Financial Bull 3X Shares in the 3rd quarter worth about $191,000. Strategic Wealth Investment Group LLC purchased a new stake in Direxion Daily Financial Bull 3X Shares in the 4th quarter valued at about $343,000. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Direxion Daily Financial Bull 3X Shares during the 4th quarter valued at about $8,206,000. 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.