Ellis Investment Partners LLC Raises Position in Direxion Daily Financial Bull 3X Shares $FAS

Ellis Investment Partners LLC grew its position in Direxion Daily Financial Bull 3X Shares (NYSEARCA:FAS) by 13.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,744 shares of the real estate investment trust’s stock after acquiring an additional 315 shares during the period. Ellis Investment Partners LLC’s holdings in Direxion Daily Financial Bull 3X Shares were worth $463,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. LPL Financial LLC boosted its holdings in shares of Direxion Daily Financial Bull 3X Shares by 651.8% in the first quarter. LPL Financial LLC now owns 46,469 shares of the real estate investment trust’s stock valued at $7,348,000 after acquiring an additional 40,288 shares in the last quarter. Variant Private Wealth LLC purchased a new stake in shares of Direxion Daily Financial Bull 3X Shares in the first quarter valued at about $2,201,000. Ethos Financial Group LLC purchased a new stake in shares of Direxion Daily Financial Bull 3X Shares in the first quarter valued at about $891,000. SBI Securities Co. Ltd. boosted its holdings in shares of Direxion Daily Financial Bull 3X Shares by 4.2% in the first quarter. SBI Securities Co. Ltd. now owns 4,618 shares of the real estate investment trust’s stock valued at $730,000 after acquiring an additional 188 shares in the last quarter. Finally, Phoenix Financial Ltd. purchased a new stake in shares of Direxion Daily Financial Bull 3X Shares in the first quarter valued at about $648,000. Hedge funds and other institutional investors own 3.51% of the company’s stock.

Direxion Daily Financial Bull 3X Shares Stock Down 6.5%

Shares of NYSEARCA:FAS opened at $160.99 on Monday. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 15.11 and a beta of 3.10. The firm’s 50-day simple moving average is $172.87 and its 200-day simple moving average is $158.82. Direxion Daily Financial Bull 3X Shares has a fifty-two week low of $92.66 and a fifty-two week high of $189.23.

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.