Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) Share Price Pass Above Two Hundred Day Moving Average – Time to Sell?

Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $130.43 and traded as high as $151.64. Direxion Daily Financial Bull 3X Shares shares last traded at $145.23, with a volume of 717,964 shares trading hands.

Direxion Daily Financial Bull 3X Shares Stock Performance

The firm has a 50 day simple moving average of $158.62 and a 200-day simple moving average of $130.43.

Institutional Trading of Direxion Daily Financial Bull 3X Shares

Several hedge funds have recently modified their holdings of the company. Strategic Financial Concepts LLC bought a new position in shares of Direxion Daily Financial Bull 3X Shares in the 2nd quarter valued at about $44,000. Virtu Financial LLC bought a new position in shares of Direxion Daily Financial Bull 3X Shares during the 2nd quarter worth approximately $1,149,000. Edge Financial Advisors LLC acquired a new stake in Direxion Daily Financial Bull 3X Shares in the 3rd quarter valued at $443,000. Commonwealth Equity Services LLC raised its holdings in Direxion Daily Financial Bull 3X Shares by 126.8% during the second quarter. Commonwealth Equity Services LLC now owns 4,111 shares of the real estate investment trust’s stock worth $415,000 after acquiring an additional 2,298 shares in the last quarter. Finally, James J. Burns & Company LLC bought a new position in shares of Direxion Daily Financial Bull 3X Shares in the third quarter valued at $234,000. 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.